“Majority of Germans Skeptical About Arrival of Digital Euro, Poll Shows”

A digital euro that should function as a counterpart to cryptocurrency. What is found of that? In Germany, the possible arrival of this digital money was probed. In any case, the majority does not see it that way.

A majority of Germans are skeptical about the possible arrival of a digital euro. This is evident from a poll commissioned by the German banking sector association. The European Central Bank (ECB) is working on such a digital currency.

The arrival of the digital euro

The survey showed that three-quarters of the respondents agree to a greater or lesser extent that the digital euro is superfluous. This is because existing payment options are sufficient. The research commissioned by the Bundesverbandes deutscher Banken (BdB) also shows that less than a third of the respondents have an idea what the digital currency should be used for.

The ECB has been researching its own digital euro for some time now. It should act as a counterpart to cryptocurrencies such as bitcoin and ether. This digital euro currency should be an addition to the existing payment system in the eurozone. The introduction is not expected until 2026 at the earliest.

‘As long as benefits and risks are unclear, things will remain shaky’

But according to BdB, there are many questions about the digital euro that the ECB must answer. “What should a digital euro look like? What benefits does it bring, but also what risks? The central bank should answer these key questions so that the project reaches mainstream society,” said BdB deputy director Henriette Peucker.

According to her, a digital euro can only be successful if it is accepted and actually used by the European population. “As long as the benefits and risks are unclear, the project will remain shaky, and consumers will continue to use the payment options they already know and trust,” concludes Peucker.

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