The European Central Bank is actively promoting the digital euro project to address the growing trend of digital payments.

Recently, Piero Cipollone, a member of the Executive Board of the European Central Bank, publicly stated at the French Payment Forum that as Europeans increasingly use electronic payments, traditional cash is struggling to meet modern financial needs.

This judgment by Sibolone is also based on an undeniable fact that, although cash will still retain its status as legal tender, its usage in daily transactions is continuously declining. In light of this trend, the European Central Bank believes that the digital euro will help strengthen Europe's monetary sovereignty.

As early as the end of April, Denis Beau, the First Deputy Governor of the French Bank, publicly warned that Europe would face challenges to its monetary sovereignty posed by US-led stablecoins if it did not launch its own digital currency.

In this speech, Siboloni stated that while mainstream private payment services provide convenience for users, they also come with the risk of market monopolization, posing a comprehensive challenge to the safeguarding of public interests. However, the design of the digital euro will focus on ensuring the diversity of payment systems to avoid excessive reliance of consumers on a few commercial payment platforms.

In terms of privacy protection, the European Central Bank has also clearly committed to firmly protecting user privacy, while the digital euro will not have the characteristic of "programmable money" and will not impose any restrictions on users' consumption behavior.

At the same time, the European Central Bank is working hard to create a digital euro system that is "available anytime, anywhere, and for everyone." Although the specific implementation timeline has not yet been finalized, this innovative payment tool will undoubtedly have a profound impact on the financial landscape in Europe and globally.

In summary, behind this strategic move by the European Central Bank is its deep foresight in maintaining monetary sovereignty. As the preparatory work steadily progresses, the digital euro is gradually transforming from a concept into a realistic solution that could reshape the payment ecosystem.

Do you have confidence in the future application prospects of the digital euro? Do you think the euro will change the financial landscape of Europe and even the world?

#欧洲央行 # Digital Euro #Digital Economy