A Digital Euro Must Protect Privacy, ECB Public Survey Reveals

Privacy is the number one thing Europeans want out of a digital euro, according to the results of a survey by the European Central Bank (ECB).

• In an announcement on Wednesday, the ECB said it had received 8,200 replies to its public consultation, mostly from European citizens and business professionals, with many respondents sharing technical suggestions on the digital euro. 
• While 43% of respondents said privacy is the most important feature of a digital euro, fewer than one in 10 showed support for full anonymity.
• The second most important issue was security, flagged by 18% of respondents. After that, 11% said it was important the digital euro could be used as a form of payment across the Euro Zone; 9% of respondents want to ensure that there’s no added cost for using a digital euro; and 8% of respondents said offline usability is an important factor.
• “We will do our best to ensure that a digital euro meets the expectations of citizens highlighted in the public consultation,” said ECB executive board member Fabio Panetta.
• The digital euro is expected to be rolled out within four years if policymakers give the project the green light this summer, ECB’s President Christine Lagarde told Bloomberg in a March interview.

Read more: European Commission, ECB Unite to Consider Potential Pitfalls of the Digital Euro