European Central Bank (ECB) President Christine Lagard said that digital euro will not replace cash, but supplement it. “The European Central Bank explained:” Digital Euro will provide you with additional choices on how to pay and make payments make contributes to accessibility and inclusiveness.
Digital Euro is supplemented to cash
At all meetings in the European Parliament on Monday, the European Central Bank President Cristina Rigad talked about digital euro, which was 20th anniversary of the euro banknotes and coins.
Lagard talked, “Last year, we launched a digital euro project. We will study how digital euro provides a convenient, costless payment method, allowing people to pay in any of the risk-free digital currency in any place in the Eurozone. “
The European Central Bank’s leader continued to emphasize: “In any case, digital euro is complementary to cash, not replacing it. It is also why we start the redesign of banknotes.”
In October last year, the European Central Bank launched a two-year digital euro survey. The central bank further clarifies that “once the investigation phase ends, we will decide whether to start developing digital euros. Then we will create and test possible solutions, cooperate with banks and companies that can provide technical and payment services.”
The European Central Bank is detailed on the website: “Digital Euro will still be a kind of euro: like a banknote, but it is a number. It will be an electronic form of an electronic form by the European System (European Central Bank and Central Bank). All citizens and companies can be used. “
It added: “The digital euro will make you more choices in the payment method and make the payment easier, thereby promoting accessibility and inclusion.” More zone chain news, please pay attention to the download block Optimic APP, Global Block Chain Regulatory Query App.
At the same time, the European Commission is planning to propose a bill to lay a legal basis for digital euros. The legislation will support the European Central Bank’s work on digital euros. According to the European Financial Stability, Financial Services and Capital Market Alliance Commissioner MAIREAD MCGUINNESS, “our goal is to submit legislation in early 2023.”