数字欧元

The European Central Bank Pushes for Digital Euro: Committed to Creating a New Ecosystem of Financial Autonomy and Secure, Inclusive European Payments

The European Central Bank is vigorously promoting the construction of the digital euro and positions it as a key infrastructure to enhance Europe's financial autonomy and social inclusiveness.

Piero Cipollone, a member of the Executive Board of the central bank, pointed out that the current European payment system is overly reliant on foreign service providers, and there is a significant risk of single points of failure.

For example, in recent years, incidents such as the destruction of the Baltic Sea communication cables and large-scale power outages in the Iberian Peninsula have exposed the systemic vulnerabilities of this dependency model.

The core features of the digital euro include the use of distributed ledger technology to build a multi-regional transaction processing architecture, ensuring that local issues do not affect the stable operation of the overall system;

At the same time, the central bank's official application, which is mandated to be integrated into the project, provides a secure emergency channel for commercial banks in the event of cyberattacks.

In addition, the digital euro also introduces innovative offline payment functions, allowing users to complete peer-to-peer transactions through near-field communication technology even in the event of power or network outages.

In terms of inclusiveness, the project is committed to addressing the needs of vulnerable groups. For more than 30 million visually impaired individuals and 34 million hearing-impaired individuals in Europe, they are developing adaptive features such as voice navigation, high-contrast interfaces, and large-font displays.

Meanwhile, the European Central Bank has stipulated that all cooperating payment service providers must ensure users can access basic functionalities. To support citizens with insufficient digital skills, plans are in place to provide usage support through public service outlets such as post offices and libraries.

In summary, through a public-private partnership operating model and inclusive design, the project is expected to provide safe and reliable public payment options for all European citizens while maintaining financial stability.

In simple terms, the digital euro represents Europe's strategic layout for financial autonomy and digital sovereignty. It is not only a technological response to external dependencies but also a firm commitment to social inclusion and financial equity.

As the project progresses, the digital euro is expected to reshape the digital payment landscape in Europe and globally, becoming a key link between technological innovation and social value.

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The European Central Bank is actively promoting the digital euro initiative to respond to the growing trend of digital payments.

Recently, Piero Cipollone, a member of the Executive Board of the European Central Bank, publicly stated at the French Payment Forum that as more Europeans use electronic payments, traditional cash is increasingly unable to meet modern financial needs.

Cipollone's assessment is also based on an undeniable fact that, although cash will still retain its status as legal tender, its usage in everyday transactions is continuously declining. In light of this trend, the European Central Bank believes that the digital euro will help strengthen Europe's monetary sovereignty.

As early as the end of April, Denis Beau, the first deputy governor of the Bank of France, issued a public warning that if Europe does not launch its own digital currency, it will face challenges to its monetary sovereignty posed by US-led stablecoins.

In his speech, Cipollone mentioned that while current mainstream private payment services provide convenience to users, they also come with risks of market monopolization and pose a comprehensive challenge to the protection of public interests. However, the design of the digital euro will focus on ensuring the diversity of payment systems to avoid consumers' excessive reliance on a few commercial payment platforms.

In terms of privacy protection, the European Central Bank has also clearly committed to firmly protecting user privacy, while the digital euro will not possess the characteristics of "programmable money" and will not impose any restrictions on users' consumption behavior.

Meanwhile, the European Central Bank is working hard to create a digital euro system that is "available anytime, anywhere, for everyone." Although the specific implementation timeline has not yet been finalized, this innovative payment tool will undoubtedly have far-reaching impacts on the financial landscape of Europe and the world.

In summary, behind this strategic move of the European Central Bank is its deep consideration for maintaining monetary sovereignty. As the preparatory work steadily progresses, the digital euro is gradually transforming from a concept into a realistic solution that could reshape the payment ecosystem.

Do you have confidence in the future application prospects of the digital euro? Do you think the euro will change the financial landscape of Europe and even the world?