ECB Executive Board Member Fabio Panetta said in a speech, “Over the next two years we will investigate the key issues related to the design and distribution of a digital euro”.
The digital euro will be designed to be an “efficient means of payment”, but also to “preserve financial stability”. He added, “we will need to strike a balance between maximising its appeal as a means of exchange and limiting its use as a form of investment.”
The Eurosystem High-Level Task Force on Central Bank Digital Currency is working to identify “use cases and design options”. After this phase, ECB will move on to examining “technological solutions. Panetta said, “we expect to narrow down the design-related decisions by the beginning of 2023 and develop a prototype in the following months.”
