{"id":22014,"date":"2024-06-05T12:00:27","date_gmt":"2024-06-05T09:00:27","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22014"},"modified":"2024-06-05T10:42:11","modified_gmt":"2024-06-05T07:42:11","slug":"half-of-germans-open-to-using-digital-euro-despite-lack-of-awareness","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/half-of-germans-open-to-using-digital-euro-despite-lack-of-awareness\/","title":{"rendered":"Half of Germans Open to Using Digital Euro Despite Lack of Awareness"},"content":{"rendered":"<p>Though many of them have not heard of it or understood exactly what the <strong>digital euro<\/strong> is, half of Germans in a recent study indicated they could picture themselves using it.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/half-of-germans-open-to-using-digital-euro-despite-lack-of-awareness\/#Germans_Willingness_to_Use_the_Digital_Euro\" title=\"Germans&#8217; Willingness to Use the Digital Euro\">Germans&#8217; Willingness to Use the Digital Euro<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/half-of-germans-open-to-using-digital-euro-despite-lack-of-awareness\/#Need_for_More_Information_and_Privacy_Concerns\" title=\"Need for More Information and Privacy Concerns\">Need for More Information and Privacy Concerns<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/half-of-germans-open-to-using-digital-euro-despite-lack-of-awareness\/#Future_Steps_and_Implementation_Timeline\" title=\"Future Steps and Implementation Timeline\">Future Steps and Implementation Timeline<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Germans_Willingness_to_Use_the_Digital_Euro\"><\/span>Germans&#8217; Willingness to Use the Digital Euro<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>If the digital euro were an extra payment method, 50% of respondents in Deutsche Bundesbank&#8217;s 2,012-person poll on June 4 said they could either <em>&#8220;definitely&#8221;<\/em> or <em>&#8220;probably&#8221;<\/em> picture utilizing the European <strong>Central Bank&#8217;s pilot central bank digital currency (CBDC)<\/strong>.<\/p>\n<p>About the same indicated they would <em>&#8220;probably not,&#8221;<\/em> one quarter said they would <em>&#8220;definitely not&#8221;<\/em> use it, and 1% stated they did not know.<\/p>\n<p>Three in five respondents, however, also stated they had never heard, read about, or seen anything about the digital euro.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/ftx-and-irs-agree-on-24b-tax-settlement\/\"><em><span style=\"font-weight: 400;\">This Might Interest You:\u00a0<\/span>FTX and IRS Agree on $24B Tax Settlement<\/em><\/a><\/p>\n<p>Of the remaining respondents who had heard anything, over 30% believed the digital euro would replace cash or that its adoption would eliminate cash; nearly a quarter said they had no idea what it was.<\/p>\n<p>Just 17% of respondents agreed it was a type of Eurosystem central bank-issued digital money that the <strong>ECB<\/strong> said would be accessible in addition to other payment options, such as cash.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Need_for_More_Information_and_Privacy_Concerns\"><\/span>Need for More Information and Privacy Concerns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a statement,<strong> Bundesbank President Joachim Nagel<\/strong> said the poll reveals <em>&#8220;a great degree of information still needs to be provided.&#8221;<\/em><\/p>\n<p>With nearly three-quarters of respondents describing it as <em>&#8220;very important&#8221;<\/em> or <em>&#8220;important,&#8221;<\/em> ensuring improved privacy from the digital euro over current electronic payment methods is the most critical issue.<\/p>\n<p>While more than 60% indicated a degree of emphasis on the digital euro being government-issued like currency and with the option to pay offline, over 70% stated it is vital that the CBDC is built on European infrastructure.<\/p>\n<p><em>&#8220;The central banks of the Eurosystem have no interest in user data,&#8221;<\/em> Nagel remarked. <em>&#8220;Far more effectively than current commercial payment solutions,&#8221;<\/em> he said, the digital euro would safeguard privacy.<\/p>\n<p>The <strong>ECB<\/strong> says the digital euro may be used offline, and transaction information <em>&#8220;would be known only to the payer and the payee.&#8221;<\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Future_Steps_and_Implementation_Timeline\"><\/span>Future Steps and Implementation Timeline<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is currently in a planning stage with a completion date of October 2025, with the goal of finalizing policies and identifying potential issuers.<\/p>\n<p><strong>The European Commission<\/strong> turned in a draft rule in June suggesting a legal framework for the digital euro and a plan to protect cash usage.<\/p>\n<p>Burkhard Balz, the board member of the Bundesbank in charge of the digital euro initiative, stated in a statement that current plans envision consumers <em>&#8220;being able to make their first payments with the digital euro in 2028 at the earliest.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Though many of them have not heard of it or understood exactly what the digital euro is, half of Germans in a recent study indicated they could picture themselves using it. Germans&#8217; Willingness to Use the Digital Euro If the digital euro were an extra payment method, 50% of respondents in Deutsche Bundesbank&#8217;s 2,012-person poll<\/p>\n","protected":false},"author":6,"featured_media":22015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,1],"tags":[6034,6120],"class_list":["post-22014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-genel","tag-central-bank-digital-currencies-cbdcs","tag-digital-euro"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Half of Germans Open to Using Digital Euro Despite Lack of Awareness<\/title>\n<meta name=\"description\" content=\"A recent Deutsche Bundesbank survey reveals that 50% of Germans might use the digital euro, although many are still 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