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Digital currency adoption in Europe has reached a major milestone as cryptocurrencies continue to gain traction around the world. A recent Bundesbank survey found that despite limited knowledge of the digital euro, half of Germans are open to the idea of using it.
50% of Germans are ready to use the digital euro!
Of the 2012 survey participants, 50% said they would “definitely” or “probably” consider using the European Central Bank’s (ECB) digital euro as an additional payment option. Interestingly, however, three out of five people admitted that they had never heard of the digital euro or CBDC before.
Among those who had some knowledge of the digital euro, around a quarter admitted not knowing what it was, and 16% even mistook it for cryptocurrency. In addition, almost 30% believed that the digital euro aims to replace or completely abolish cash if it is introduced.
Confidentiality, a major concern for future CBDC users
The main concerns and preferences of potential users of the digital euro and CBDC in general were highlighted. Privacy emerged as a top concern, with more than three-quarters of respondents considering it “very important” or “important”. Nagel reassured the public, saying that the Eurosystem’s central banks are not interested in user data.
Currently, the digital euro is in the preparation phase, which should be completed in October 2025. This phase focuses on finalizing the rules and identifying potential issuers. According to Burkhard Balz, the Bundesbank board member responsible for the digital euro project, current plans call for individuals to make their first digital euro payments in 2028 at the earliest.
This opening to the digital euro in Germany reflects a growing trend towards the digitization of finance and recognition of the potential value of cryptocurrencies and central bank digital currencies (CBDCs) in the near future.
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The world is evolving and adaptation is the best weapon to survive in this wavy universe. Essentially a crypto community manager, I am interested in anything directly or indirectly related to blockchain and its derivatives. To share my experiences and raise awareness of a field that fascinates me, there is nothing better than writing articles that are both informative and relaxing.
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