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The European Central Bank (ECB) continues its efforts to introduce a digital version of the eurowhich he says will support unity throughout the European Union.
ECB President Christine Lagarde shared on X which the institution aims at start using the digital euro “as soon as possible”.
Lagarde explained that the goal is not to replace physical money entirely, but to offer a digital form of it. She noticed that money will always be availablebut a digital alternative will allow people to make payments online with money issued by the central bank.
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She described the euro as a common currency for all Europeans and said a digital version would reflect a shared sense of purpose and trust.
His comments followed a The announcement of October 30 from the governing body of the ECB, which confirmed the plans to start creating and testing the necessary systems to support this digital currency. If the European Union passes the required laws, the digital euro It could begin to be available to the public in 2029.
However, political commentator David Thunder spotted in a post on X that while the euro is supposed to represent common trust, a digital version could do the opposite by allowing constant monitoring of personal transactions.
In addition, the French politician Éric Ciotti recently proposed a ban on central bank digital currencies in their country.
The ECB recently signed deals with seven tech companies as part of its ongoing assessment of a digital euro. What roles do these companies play? Read the full story.
