Lagarde on Digital Euro: Consumers Want Privacy Protected But They Don’t Want Anonymous CBDC
Head of ECB has stated that regarding the digital euro, consumers want their privacy protected they do not want it to be anonymous
Chief of the Central European Bank, Christine Lagarde, has stated that EU citizens want privacy protection when they use the digital euro.
Lagarde mentioned that she is expressing the opinion of at least 80 central banks around the world, who believe that it is their duty to offer consumers digital currencies “that would operate to the benefit of consumers”.
She described DCBC as currencies that could be used like banknotes but they will not offer the degree of anonymity that banknotes have.
However, they do not want this CBDC to be anonymous. That’s the results of multiple polls that people whose opinion has been voiced above are the majority, according to Lagarde. Commenting on that, Lagarde said that the consumers understand that risks of anonymity, hence their opting only for privacy protection.
This what that new ECB report on the digital Euro is about. As reported by U.Today earlier, the Central Bank of the EU intends to study all the risks of using a CBDC, its possible design and use.
Earlier, Christine Lagarde stated that the creation and launch of CBDC for ECB may take at least four years.