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’ Willingness to Use the Digital Euro

If the digital euro were an extra payment method, 50% of respondents in Deutsche Bundesbank’s 2,012-person poll on June 4 said they could either “definitely” or “probably” picture utilizing the European Central Bank’s pilot central bank digital currency (CBDC).

About the same indicated they would “probably not,” one quarter said they would “definitely not” use it, and 1% stated they did not know.

Three in five respondents, however, also stated they had never heard, read about, or seen anything about the digital euro.

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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.

Just 17% of respondents agreed it was a type of Eurosystem central bank-issued digital money that the ECB said would be accessible in addition to other payment options, such as cash.

Need for More Information and Privacy Concerns

In a statement, Bundesbank President Joachim Nagel said the poll reveals “a great degree of information still needs to be provided.”

With nearly three-quarters of respondents describing it as “very important” or “important,” ensuring improved privacy from the digital euro over current electronic payment methods is the most critical issue.

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.

“The central banks of the Eurosystem have no interest in user data,” Nagel remarked. “Far more effectively than current commercial payment solutions,” he said, the digital euro would safeguard privacy.

The ECB says the digital euro may be used offline, and transaction information “would be known only to the payer and the payee.”

Future Steps and Implementation Timeline

It is currently in a planning stage with a completion date of October 2025, with the goal of finalizing policies and identifying potential issuers.

The European Commission turned in a draft rule in June suggesting a legal framework for the digital euro and a plan to protect cash usage.

Burkhard Balz, the board member of the Bundesbank in charge of the digital euro initiative, stated in a statement that current plans envision consumers “being able to make their first payments with the digital euro in 2028 at the earliest.”