(Finance) – Even before the feasibility project of thedigital euro has been completed, the European Central Bank it worries that it is “successful enough” with home users. And for this reason, during a refresher hearing at the European Parliament, Fabio Panettathe member of the Executive Committee who has the delegation on this issue, reported that new ones will be created “focus group“, with more elements on the use of the digital euro” in order to obtain more precise feedback “.
To date, “our interactions with stakeholders, political authorities and other major central banks aim to create consent about the public purposes of the digital euro. Awareness of such purpose – Panetta warned – however, it will not be enough to ensure sufficient use of the digital euro by private users “. For this” step by step, we are analyzing the needs of citizens and traders. This will allow us to improve, in the preliminary phase of the projectthe functionality of the digital euro before its eventual issue. We do not intend to be ‘too successful’ and crowd out intermediaries and private financial instruments. However, we want the digital euro to be ‘successful enough’ – he argued – to generate adequate demand and create added value for consumers“.
At the moment Panetta explained that the ability to “to pay everywhere“It is the most important feature that, according to European citizens, the future digital euro must have. All commercial activities in the currency area, therefore, whether they are physical (shops, restaurants) or virtual, should accept it. While the second characteristic considered more important would be to carry out payments instantaneouseasy and contactless, especially from person to person.
Thanks to discussions within the focus groups, “we are improving our understanding of preferences of potential users. Towards the end of the year we will set up new focus groups, providing participants with more information on the use of the digital euro, in order to obtain more precise feedback. In the coming weeks and months we will expand the opportunities for dialogue with stakeholders, listening to consumers, businesses, merchants, banks and payment service providers. We will also continue to engage with academia and expert groups, “she said.” convergence of the European authorities and institutions, each within their own mandate and independence – concluded Panetta – is fundamental to guaranteeing the success of the digital euro “.