European consumers have shown the least interest in adopting the Central Bank Digital Currency (CBDC): This is raising concerns about the European Central Bank (ECB) while preparing for the potential start of the digital euro.
The title of a working document from the ECB titled “Consumer behavior in the Central Bank Digital Currency”, which included close to 19,000 interviews in 11 countries in the Euro region, highlighted a little interest in alternate payment methods.
When asked to allocate € 10,000 with speculation between different assets, European consumers have allocated only a small portion of digital euros compared to traditional liquid assets such as cash, current accounts or savings accounts.
Reasons for not being interested in digital euro. Source: European Central Bank
European residents show strong priority for current payment methods. Given the multiple alternatives to both online and offline alternatives, they do not see any real benefit in a new payment system.
“The conclusion shows that convincing some users with the additional cost of the CBDC can represent a challenge for political managers, and further research in the area will definitely be necessary.”
The study says that although a digital euro can be introduced with a minimum impact on financial stability, consumer habits will face significant obstacles to adoption.
In addition, the document identified the importance of a target communication to face consumer hesitating by digital euro. The ECB notes that European users are more acceptable for education and training through video, and therefore concluded that informing the public about the CBDC of explanatory video content can encourage more digital euros.
“The users who have been shown a short video are shown with clear and comprehensive communication on the key features of the digital euro, more likely to change your opinion on this new form of payment, which in turn increases the immediate possibility of adopting it than the control group that does not treat them.”
The current US administration is in violation of the CBDC. Source: EMMER.House.gov
On the contrary, US lawmakers are accelerating their opposition to the CBDC. Addressing the March 11 House Financial Services Committee hearing, Deputy Tom Emer said that Congress should.Prefer the Stable Queen Legislation together with Anti -CBDC One. […] CBDC Technology is internally anti -American“
In addition, Hammer has called on the CBDC Anti -Surveillance State Act: A law that prevents the US administration from launching the CBDC in the future.
On the other hand, Stephen Lathner, the CEO of Deutsche Barcese, called for the establishment of a permanent digital euro to strengthen the region’s financial sovereignty.
