{"id":46094,"date":"2021-07-14T16:30:14","date_gmt":"2021-07-14T13:30:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46094"},"modified":"2025-09-01T14:38:31","modified_gmt":"2025-09-01T11:38:31","slug":"ecb-clears-the-way-for-the-research-phase-of-the-digital-euro","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ecb-clears-the-way-for-the-research-phase-of-the-digital-euro\/","title":{"rendered":"ECB clears the way for the research phase of the digital euro"},"content":{"rendered":"<p>The Governing Council of the European Central Bank (ECB) has decided to start the research phase for the national digital currency (CBDC).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">(THREAD) We have decided to launch a project to prepare for possibly issuing a digital euro. We will look at how a digital euro could be designed and distributed to everyone in the euro area, as well as the impact it would have <a href=\"https:\/\/t.co\/KCf73qHOZ8\">https:\/\/t.co\/KCf73qHOZ8<\/a> 1\/3 <a href=\"https:\/\/t.co\/eHvpFlH8sq\">pic.twitter.com\/eHvpFlH8sq<\/a><\/p>\n<p>\u2014 European Central Bank (@ecb) <a href=\"https:\/\/twitter.com\/ecb\/status\/1415273625385644036?ref_src=twsrc%5Etfw\">July 14, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initiative began in November 2019. In October 2020 the ECB <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-steps-up-work-on-digital-euro\">published a comprehensive report<\/a> on the topic. In November its president Christine Lagarde <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-outlines-timeline-for-digital-euro-launch\">within four years<\/a> predicted the emergence of the digital euro.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cNine months have passed since the CBDC report was published. In that time we deepened our analysis, <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-privacy-cited-as-the-main-characteristic-of-the-digital-euro-by-users\">learned<\/a> the views of citizens and experts, and also conducted <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-france-tests-cbdc-for-equity-settlements\">a number of experiments<\/a> with encouraging results. As a result, we decided to accelerate the process and begin the project of the digital euro,\u201d<\/em> Lagarde said.<\/p>\n<\/blockquote>\n<p>The research phase will last 24 months. During that time, specialists will seek answers to questions relating to the design and distribution of the CBDC.<\/p>\n<p>The statement notes that the digital euro should help combat illicit activity and not have an undesired impact on financial stability and monetary policy. The CBDC will complement, but <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-chief-digital-euro-will-not-replace-cash\">not replace cash<\/a>, ECB stressed.<\/p>\n<p>The next phase will also shed light on the necessary <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-france-cbdc-experiments-will-prompt-a-review-of-the-regulatory-framework\">changes to the EU regulatory framework<\/a>. In addition, experts will assess the CBDC\u2019s impact on the market and payment privacy. It is also expected to define a business model for supervised intermediaries within the euro\u2019s digital ecosystem.<\/p>\n<p>The document notes that the CBDC could be based on a mix of centralized and decentralized components. Both options have shown the technical ability to process more than 40,000 <span data-descr=\"transactions per second\" class=\"old_tooltip\">TPS<\/span>.<\/p>\n<p>In May, the Bank for International Settlements <a href=\"https:\/\/u1f987.com\/en\/news\/bis-says-cbdcs-are-a-concept-whose-time-has-come\">called<\/a> CBDC a concept whose time had come.<\/p>\n<p>Raiffeisen Bank estimates that by 2025 <a href=\"https:\/\/u1f987.com\/en\/news\/raiffeisen-bank-by-2025-10-of-countries-will-have-their-own-digital-currencies\">will have<\/a> their own digital currencies and exchanges to trade them. <\/p>\n<p> Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Governing Council of the European Central Bank (ECB) has decided to start the research phase for the national digital currency (CBDC).<\/p>\n","protected":false},"author":1,"featured_media":46095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1753,1410],"class_list":["post-46094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-digital-euro","tag-ecb"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46094"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46094\/revisions"}],"predecessor-version":[{"id":46096,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46094\/revisions\/46096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46095"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}