The Board of Governors of the European Central Bank noted a number of potential benefits of using digital currency, if it is introduced into the financial system.
In a statement on December 11, the ECB said it continues to study the impact of the digital euro on various economic factors. Noting that the introduction of a new type of money does not imply the crowding out of private payment services, but, on the contrary, can stimulate their development.
Presentation: How would a digital euro impact the digital transformation of payments?
According to the Board of Governors, the digital euro opens up a number of opportunities for intermediaries, since fiat is better suited to provide interface solutions, and can also help build new business models based on it. Specific prospects will depend on the scale of emission and use of the new type of money..
While the ECB considers this issue only in the form of a potential concept, since the decision on the feasibility of it launch still pending. Implementation depends on the adoption of digital currency by central banks around the world and the share of cash in circulation.
In September, European Central Bank Chairwoman Christine Lagarde also noted that the digital euro could complement, but not replace, cash..
text: Ivan Malichenko, photo: Reuters