The European Central Bank (ECB) is continuing with determination in its activities aimed at defining the characteristics for designing the digital euro. And this in view of a possible issue decision that the Board of Governors could adopt.
Banks in Italy are actively involved in the project, also with innovative services, based on the programmability of payments, on which they have worked on an experimental basis. For example, the case of application of the digital euro to cultural bonuses or other bonuses paid by the State, in which the first use of the digital euro is bound by the intended purpose, but subsequently the money becomes available to those who received it, was the subject of particular in-depth studies. without further constraints. The use of digital currency is programmed according to predefined instructions from time to time.
The digital euro could be very important for families, businesses, the country and Europe. It will be able to bring important recognition of the Europe area to the world, together with legality and stability.
The digital euro will be adopted if it brings concrete and perceptible value to the market. According to an analysis by the ECB, the market segments that would meet the Central Bank's objectives are attributable to payments between people and those in points of sale and online, in addition to those between the state and citizens.
If these priorities are confirmed, the design and architecture of the new digital currency should, according to the Italian banks, enable new features such as those made possible by programmability to differentiate the digital euro from the electronic means of payment already available. Innovative services were also suggested, particularly in the areas of programmable payments, micropayments, payments to multiple beneficiaries and business-to-business transactions.
Alongside the work on the digital euro, the ECB is examining the possible evolutions of system infrastructures, taking into consideration the possible introduction of advanced technologies, in particular based on distributed ledgers for the settlement of wholesale transactions.