European Central Bank Launches Pilot Project To Create “Digital Euro”

European Central Bank Launches Pilot Project To Create “Digital Euro”

European Central Bank Launches Pilot Project To Create 'Digital Euro'

The preliminary “investigation part” is to final two years and concentrate on the design of the digital euro.

Frankfurt:

The European Central Bank on Wednesday formally launched a pilot undertaking to create a “digital euro”, in response to the rising reputation of digital funds and the rise of cryptocurrencies.

“Our work goals to make sure that within the digital age residents and companies proceed to have entry to the most secure type of cash, central financial institution cash,” ECB president Christine Lagarde stated in a press release. The preliminary “investigation part” is to final two years and concentrate on the design of the digital euro, earlier than a ultimate determination is taken on whether or not to proceed.

(Except for the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)

.

Leave a Reply

Your email address will not be published. Required fields are marked *