Digital Euro Project Moves Into Investigation Phase

Digital Euro Project Moves Into Investigation Phase

The Digital Euro project will pass into the investigation phase, revealed the European Central Bank (ECB). The favorable outcome of the previous experimentation phases had driven the investigation phase out of the theoretical realm and into the practical

This next stage will last a whole 24 month period. It will aim to address distribution and design-related issues. The investigative stage will also focus on any unforeseeable consequences and impacts of the Digital Euro.

Nine months ago the ECB released a report in which the President of the Bank, Christine Lagarde, disclosed that the digital euro will officially launch in the next 2 to 4 years.

A recent press release by Lagarde, meant as an extension to the aforementioned ECB report, reveals that in these nine months the bank was able to gather and process sufficient data and feedback from citizens as well as professionals. The organization was also successful in conducting several experiments. This overall success had motivated the bak to move forward with the digital euro project.

Moreover, the ECB revealed, once more, that the main purpose of the Digital Euro is not to replace cash bills but to complement them.

Currently, four experimental phases have been completed, related to the Digital Euro initiative:  anti-money laundering precautions, the digital fiat ledger, end-user accessibility, and problems of limitation on circulations.

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