Half of the participants in a recent survey conducted by the Deutsche Bundesbank expressed their willingness to use the digital euro, despite many of them being unfamiliar with the concept. The survey, which involved 2,012 individuals, revealed that 50% of the respondents could envision using the digital euro as an additional payment option. A quarter of the participants stated that they would definitely not use it, while an equal number said they probably would not. Only 1% admitted to not knowing about the digital euro. However, the survey also indicated that three out of five respondents had never heard, read, or seen anything about the digital euro. Among those who were aware of it, approximately 25% admitted to not knowing what it was, with 16% mistakenly believing it to be a cryptocurrency. Additionally, nearly 30% thought that the digital euro aimed to replace physical cash or even abolish it. Only 17% correctly identified it as a form of Eurosystem central bank-issued digital money that would be available alongside other payment methods, including cash. The survey results prompted Joachim Nagel, President of the Bundesbank, to assert that there is still a significant need for information dissemination regarding the digital euro. The survey also shed light on the concerns and preferences of potential users. Respondents expressed a strong desire for enhanced privacy features, with over 75% rating it as “very important” or “important.” Additionally, more than 70% emphasized the importance of the digital euro being based on European infrastructure, and over 60% expressed the need for it to be government-issued like physical cash and capable of offline payments. Nagel reassured the public that Eurosystem central banks have no interest in users’ data and claimed that the digital euro would provide greater privacy protection compared to existing commercial payment solutions. The European Central Bank (ECB) has stated that the digital euro can be used offline, with transaction details only known to the payer and payee. Currently, the digital euro is in a preparation phase scheduled for completion in October 2025, which focuses on finalizing regulations and identifying potential issuers. Last year, the European Commission submitted a draft regulation outlining a legal framework for the digital euro and a proposal to safeguard the use of physical cash. Burkhard Balz, a board member of the Bundesbank responsible for the digital euro project, stated that people may be able to make their initial payments with the digital euro as early as 2028, according to current plans.
Survey finds Germans divided on digital euro, with majority lacking knowledge of its purpose