Last week, the European Central Bank (ECB) published the fourth status report on the digital euro, describing a proposed staggered roll-out of the central bank digital currency (CBDC) and presenting the findings of a market research study with potential external vendors, among other things.
The report also outlined the principles for a digital euro compensation model and explained the ongoing work on design and distribution options. The next steps involve a comprehensive review of this past year’s investigation phase and a decision on whether to move forward with a subsequent project development phase.
In its initial release, the digital euro would only be available for person-to-person (P2P) and e-commerce payments to “generate network effects and foster wider acceptance,” according to the report. Research has shown that P2P payments are highly regarded among European users and are also technically easy to implement, whereas the e-commerce use case would allow consumers to use central bank money for their online purchases.
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