ECB Started Working on the Digital Euro

The ECB has started working on the digital Euro. The European Central Bank announced that it has officially started working on the digital Euro.

Making a statement on the subject, ECB President Christine Lagarde made the following statements: "Our goal is to ensure that both citizens and companies have access to the safest form of money, central bank money, in this digital age we live in." The project will begin with a 24-month research period. It was said that during this period, plans will be made for the design and distribution of CBDC for user needs. The following was said regarding this planning, which was also announced on the official website of the ECB: “In addition to meeting the needs of Europeans, the digital Euro should help prevent illegal activities and prevent interference with financial stability and monetary policies. The digital Euro will not replace cash, it will only supplement it. It will examine the risk-free and safe use conditions that it should provide.” In addition, it was stated on the ECB's site that the energy that the digital Euro would consume to process 10 thousands of transactions per second is negligible compared to the energy spent for Bitcoin, and in this sense, it is "environmentally friendly" compared to Bitcoin.