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Preparing euro payments for the future: A blueprint for a digital euro

Author

Listed:
  • Wagner, Eric

    (Group Product Owner Compliance Advanced Analytics, Erste Group Bank AG, Austria)

  • Bruggink, Diederik

    (Head of Innovation and Payments at ESBG, Belgium)

  • Benevelli, Alessia

    (Adviser, European Savings and Retail Banking Group, Belgium)

Abstract

In its 2020 report on a digital euro, the European Central Bank (ECB) created a starting point for a broader dialogue on the topic. The initiative behind the digital euro, supported by the European Commission, draws on best practices and promising approaches, but is also predicated upon the idea that electronic identity schemes and central bank digital currencies (CBDCs) should be developed in concert. This paper discusses the ECB’s report, before examining other global CBDC initiatives and then proposing a possible blueprint for a digital euro. The paper argues that if the key parties continue to combine their expertise, Europe will not only have a world-class blueprint for a digital euro, but also a template for the creation of a future digital world currency based on European design principles.

Suggested Citation

  • Wagner, Eric & Bruggink, Diederik & Benevelli, Alessia, 2021. "Preparing euro payments for the future: A blueprint for a digital euro," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 15(2), pages 165-187, June.
    • Handle: RePEc:aza:jpss00:y:2021:v:15:i:2:p:165-187
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    Citations

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    Cited by:

    1. Hoang, Yen Hai & Ngo, Vu Minh & Bich Vu, Ngoc, 2023. "Central bank digital currency: A systematic literature review using text mining approach," Research in International Business and Finance, Elsevier, vol. 64(C).
    2. Tu DQ Le & Son H Tran & Dat T Nguyen & Thanh Ngo, 2023. "The degrees of central bank digital currency adoption across countries: a preliminary analysis," Economics and Business Letters, Oviedo University Press, vol. 12(2), pages 97-104.
    3. Dunbar, Kwamie, 2023. "CBDC uncertainty: Financial market implications," International Review of Financial Analysis, Elsevier, vol. 87(C).

    More about this item

    Keywords

    central bank digital currency; CBDC; digital euro; digital currency; electronic identity; euro area;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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