Plan for Digital Euro in Pilot Project

Plan for Digital Euro in Pilot Project

Germany and France want to advance their sovereignty with a digital euro similar to bitcoin. A pilot project is scheduled to begin in early 2021.

Briefly required

  • The digitization of the euro should take the next step this year.
  • Germany and France want to start a pilot project.
  • Olaf Scholz states that a digital currency is important for sovereignty.

Germany and France want one this year Pilot Project for Digital Euro Nudging a digital currency is important for European sovereignty. Said Finance Minister Olaf Scholz (SPD) After meeting on wednesday With his French counterpart Bruno Le Mayer.

Digital Euro should become an alternative to bitcoin

They insisted that they could International role of euro Strengthen «Europe has Digitization Become a leader, ”he demanded. A digital euro will increase the choice of payment instruments and may be the answer to private sector cryptocurrencies such as bitcoin.

Unlike these, he would be from European Central bank Published. It is not intended to eliminate euro notes and coins. But to complement. According to EZB-Directorate member Fabio Panetta, a digital euro could not be introduced until 2026 at the earliest.

More on topic:

Digitization ECB Bitcoin Euro


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Seth Grace

About the author: Seth Grace

Seth is an all-around geek who loves learning new stuff every day. With a background in Journalism and a passion for web-based technologies and Gadgets, she focuses on writing about on Hot Topics, Web Trends, Smartphones, and Tablets.

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