Digital Euro

[Abiky]

Last time I've checked, the EU is working on a new digital cash system for the Euro. It's called the "Digital Euro". You can find more info about it on the ECB's official website. With the US abandoning plans for a CBDC (Digital Dollar) under Donald Trump's leadership, many are wondering if the nation will be left behind in the dust as others stay ahead in the game. China launched the e-CNY, while Nigeria launched the eNaira. But a Digital Euro? It might replace the USD if it doesn't become a CBDC in the future.

What do you think about the EU's plan to launch a "Digital Euro"? Will it be successful? Do you think it will co-exist with cash (paper money)? Or will it completely replace it?

Your input would be greatly appreciated. Thanks.

[mirtotanota]

The digital euro is far from being expected to completely replace with paper money. My reason for this is that to have this type of money, you always have an electronic devices with you, so i think its not good idea to completely replace with paper money

[Cryptohygenic]

What do you think about the EU's plan to launch a "Digital Euro"? Will it be successful? Do you think it will co-exist with cash (paper money)? Or will it completely replace it?

The ideal of introducing the digital currency is a welcomed development because it would contribute to the fights against robbery attacks of people with the hold of physical cashes but the adoption of the technology will be limited to users who are not conversant with digital technologies and as noted a centralized commodity, the cash will stay and same time will the digital euro exist so, it should be decisions of individuals to operate with any of the concept that is comfortable for them to use.
And if the digital currency replaces the cash, then it would other hand lead to economy crisis with it effects of unemployment where banks workers will be affected.

[Pablo-wood]

The digital euro is far from being expected to completely replace with paper money. My reason for this is that to have this type of money, you always have an electronic devices with you, so i think its not good idea to completely replace with paper money

But you will agree the world is going digital and people are  more comfortable making payments through digital means than with paper money. This will help reduce cash dependencies, it will promote low cost transactions, it will limit the risk of bank failures and improve privacy.

It is hard to see an adult who doesn't have access to a digital device no matter how outdated the device might be. Paper money is gradually fading away. Ushering in an enhanced payment option with better efficiency and a more reliable alternative to our regular banking system.

[mirtotanota]

But you will agree the world is going digital and people are  more comfortable making payments through digital means than with paper money. This will help reduce cash dependencies, it will promote low cost transactions, it will limit the risk of bank failures and improve privacy.

It is hard to see an adult who doesn't have access to a digital device no matter how outdated the device might be. Paper money is gradually fading away. Ushering in an enhanced payment option with better efficiency and a more reliable alternative to our regular banking system.

I'm agree with that, people prefer to with credit cards or use digital payments like NFC, but as I said people like me are there that don't prefer to use phone or digital gadgets outside of home, And think about it, what should be done if one day the electricity or internet is cut off for a long time due to natural disasters such as earthquakes or floods?  Or what should be done if there is an urgent matter and the charge of your phone or gadget is over?

[peter0425]

What do you think about the EU's plan to launch a "Digital Euro"? Will it be successful? Do you think it will co-exist with cash (paper money)?

It can be. I do not see any reason why not if I am being honest. Digital money has been proven to be vital in these times and it is just as important that they try to not get left behind by other countries.

Or will it completely replace it?

Your input would be greatly appreciated. Thanks.

I doubt that. Paper money is always needed. Not everyone will have digital euros on hand ready to use it to buy something or to accept it from a buyer. So I think the best that could happen is if just enough people using the digital money.

[WillyAp]

The ideal of introducing the digital currency is a welcomed development because it would contribute to the fights against robbery attacks of people with the hold of physical cashes but the adoption of the technology will be limited to users who are not conversant with digital technologies and as noted a centralized commodity, the cash will stay and same time will the digital euro exist so, it should be decisions of individuals to operate with any of the concept that is comfortable for them to use.
And if the digital currency replaces the cash, then it would other hand lead to economy crisis with it effects of unemployment where banks workers will be affected.

hopefully you never have a situation without power or internet or both of the same time.
Just look at Heathrow, splendid example for a failure in thinking.

Speaking of the UK: https://www.telegraph.co.uk/business/2025/03/20/the-bbc-gave-thames-water-bosses-a-free-hit-they-punched/

Yet while the Thames’s rank and file seem to get it, somehow the company’s delusional executives clearly still don’t.

Indeed, Weston seems thoroughly determined to avoid any discussion of how Thames has ended up in this spectacular mess. Despite several opportunities to address the issue he ducks it every time.

It’s worse than just an unwillingness to be frank, incredibly Weston claims not to know the reasons, at which point surely someone should have staged an intervention, sneaked him out of a fire exit and confiscated his security pass.

“I’ve only been here 10 months … I don’t know how it got this way,” he says.

What? How long does he need? He’s the chief executive for heaven’s sake. If he doesn’t know what went wrong then how can he ever hope – in his words – to “fix it”.

Those people are managing your/our utilities. Someone else is to blame, always.

[Mrbluntzy]

What do you think about the EU's plan to launch a "Digital Euro"? Will it be successful? Do you think it will co-exist with cash (paper money)? Or will it completely replace it?

Your input would be greatly appreciated. Thanks.

The plan of introducing the digital Euro will be successful, based on what have been said, the reason of introducing the digital Euro is because of the evolution of new technologies and there is a large demand by consumers on how urgent they want their payment to be processed, while they have not yet introduced the digital euro is because Euro cash is still dominating and so the introduction of the digital euro is still under consideration only to be launched when their is a very great important to do so. They have not stated in their new release the date which it will be Launched but they said it's unders consideration until it becomes necessary to do so, which means it might not be this year, not anytime soon.

Based on what they said, they sound it clear that the digital euro will not replace cash.

A digital euro would be
introduced alongside cash, it would not replace it.

[Josefjix]

But you will agree the world is going digital and people are more comfortable making payments through digital means than with paper money. This will help reduce cash dependencies, it will promote low cost transactions, it will limit the risk of bank failures and improve privacy.

Bro, it's not possible dealing without paper money, it's the bedrock of any monetary policy in any nation that's why some sectors doesn't accept digital means of payment in their business, there's a reason why. Everything must not go digital even if people is saying digitalization is civilisation bla bla.

I bet you, there are business associates that wouldn't support the Digital Euro for their daily transactions which are the drugs dealers or other illegal business dealers. And I'm pretty much sure that any payment app designed for payment will have a certain restrictions on the amount of transaction to be done daily.

[Don Pedro Dinero]

What do you think about the EU's plan to launch a "Digital Euro"? Will it be successful? Do you think it will co-exist with cash (paper money)? Or will it completely replace it?

The problem is not only the digital euro, it is that it will be linked to digital identity, meaning that the public authorities will have all the information about you in one place and in real time. Not just when you were born, what you studied, what you do for a living, what illnesses you have or have had, but what you spend every penny you spend.

If you had asked me not long ago, I would have told you that it will be successfully implemented because the majority of the population are like sheep that go to the slaughterhouse and don't know it, or like the frog that is cooked and the same thing.

But it seems that there has been a lot of opposition to the issue and although the ECB initially wanted to launch it this October, they have now backtracked and said that October will be the next step and the launch will be later.

[Pablo-wood]

Bro, it's not possible dealing without paper money, it's the bedrock of any monetary policy in any nation that's why some sectors doesn't accept digital means of payment in their business, there's a reason why. Everything must not go digital even if people is saying digitalization is civilisation bla bla.

I bet you, there are business associates that wouldn't support the Digital Euro for their daily transactions which are the drugs dealers or other illegal business dealers. And I'm pretty much sure that any payment app designed for payment will have a certain restrictions on the amount of transaction to be done daily.

Europe and other part of the world is not Africa where the world seems to be darker in terms of technology. Businesses has advanced and technology is the order of the day. Come to think of it which big business tycoon moves about with paper money this days when they go for their business trips? Even a petty business trader takes caution by not going on a business trip with paper money to avoid been robbed on the road

Electronic cash is more popular than paper money globally. Digital payment methods, including credit/debit cards, mobile wallets (like Apple Pay and Google Pay), and cryptocurrencies, have become the preferred choice for transactions due to their convenience, security, and speed. Many countries are seeing a decline in cash usage, with some even moving toward cashless economies. However, paper money is still widely used in certain regions, especially in areas with limited banking infrastructure or where people prefer cash for privacy reasons.

That is the response I got from chatgpt. Digital payment will become the order of the day because of its convince and accessibility. It will have wider adoption and depending on the model chosen by the central bank they might choose to eliminate third party intermediates which gives their citizens direct power to ECB.

[Fiatless]

Europe and other part of the world is not Africa where the world seems to be darker in terms of technology. Businesses has advanced and technology is the order of the day. Come to think of it which big business tycoon moves about with paper money this days when they go for their business trips? Even a petty business trader takes caution by not going on a business trip with paper money to avoid been rubbed on the road

Your assumption that some countries are becoming totally cashless is true. In Sweden only one out of ten transactions is done with cash. But Sweden and Norway are now encouraging people to use cash in case of emergencies like war or crisis. There might be an attack on key infrastructure, which might cause online payment channels to suffer network issues. Physical currency in these Nordic nations is now been seen as a tool for national security and civil defense. Infact sanctions could be placed on any business that refuse to accept cash payments.

[NeuroticFish]

Even a petty business trader takes caution by not going on a business trip with paper money to avoid been rubbed robbed on the road

And if this person gets a flat tyre, or miscalculates the location of refueling or gets lost/on the wrong road and has to get help somewhere at the country side... what you think he's going to pay with? A credit card.. nobody can read for miles?

Imho your assumption is wrong. The world is bigger than cities and planes and motorways and in way too many locations cashless payments are not even a dream.
So it depends on more factors than you took into account and having some cash - not a lifechanging amount, obviously - is a smart caution.


And yeah, going completely cashless is impossible in the current generation. We need 100% (not even 99.9%) internet coverage as a bare minimum first step.

[Agbe]

Bro, it's not possible dealing without paper money, it's the bedrock of any monetary policy in any nation that's why some sectors doesn't accept digital means of payment in their business, there's a reason why. Everything must not go digital even if people is saying digitalization is civilisation bla bla.

Europe and other part of the world is not Africa where the world seems to be darker in terms of technology. Businesses has advanced and technology is the order of the day. Come to think of it which big business tycoon moves about with paper money this days when they go for their business trips? Even a petty business trader takes caution by not going on a business trip with paper money to avoid been robbed on the road

That is an insult to Africans but I like it because that is what African leaders want. But what Josefjix said is very much correct. Business tycoons are not carrying physical Cash around again because the world is digitalizing it currencies yet the fiat currency is still used in the digital arena therefore, we can't do without the fiat currency be a cash or online (digital), and bitcoin was designed to help the fiat digitally by using it to buy things online and paying services but the store of value has taking over the coin so nobody is care about the use of the real p2p of the coins which is buying and selling of goods and services online. Even now, we sell our coins to fiat currency digitally before using to buy things and paying for services either in Cash or Transfer. So Josefjix is 100% correct.

[cabron]

US is supporting the stablecoins like USDT which its been speculated to be the real CBDC already. They won't be left behind if its what you mean. USDT been use in international trade already and Tether is one of the top buyer of US treasuries.  So if Trump says he doesn't like CBDC, its because he wasn't aware, USDT is actually a CBDC stablecoin.

Its Europe that I think is left behind if its only now they are considering the digital Euro.

[davis196]

Last time I've checked, the EU is working on a new digital cash system for the Euro. It's called the "Digital Euro". You can find more info about it on the ECB's official website. With the US abandoning plans for a CBDC (Digital Dollar) under Donald Trump's leadership, many are wondering if the nation will be left behind in the dust as others stay ahead in the game. China launched the e-CNY, while Nigeria launched the eNaira. But a Digital Euro? It might replace the USD if it doesn't become a CBDC in the future.

What do you think about the EU's plan to launch a "Digital Euro"? Will it be successful? Do you think it will co-exist with cash (paper money)? Or will it completely replace it?

Your input would be greatly appreciated. Thanks.

I live in a country, that is a member of the European Union and what I mostly hear is a bunch of right-wing commentators screaming and whining about the "digital euro". They say, that a digital euro would cause fin-tech totalitarianism and the people will lose control over their savings and wealth. Maybe they are right. I'm not an expert the field of CBDCs. What I do know is the fact that no digital currency can ever completely replace paper money. The digital euro's goal isn't to replace the paper euro. The main goal is the European Central Bank gaining more control over the money supply and limiting the control of the commercial banks over the economy.
The digital euro cannot replace the US dollar as a global currency. Don't make me laugh.

[Porfirii]

The digital euro is far from being expected to completely replace with paper money. My reason for this is that to have this type of money, you always have an electronic devices with you, so i think its not good idea to completely replace with paper money

I hope you're right. There are many critical voices now saying that it will replace paper money and that all our transactions will be traceable, which will lead to the end of our privacy.

In many other aspects Europe is well known for ensuring a framework of guarantees around the rights of its citizens, so these dystopian claims seem to me to be far from reality. But we will have to be attentive to see what it finally means.

[kryptqnick]

I believe that CBDCs might coexist with cash for some time, but I hope that they will not become a mainstream way of digital payments. Aren't there even bigger privacy concerns that with debit card payments? Higher traceability, bigger data exposure. The EU doesn't do things hastily, especially when they aren't sure.
And while I believe that the USD can lose some of its dominance as #1 foreign reserve currency, its current dominance share of around 58% vs around 20% share for EUR is too high to be seriously challenged.

[NeuroticFish]

I believe that CBDCs might coexist with cash for some time, but I hope that they will not become a mainstream way of digital payments. Aren't there even bigger privacy concerns that with debit card payments? Higher traceability, bigger data exposure. The EU doesn't do things hastily, especially when they aren't sure.

It really depends on how is it implemented. After all, they don't even need blockchain for CBDC. So it can easily be done that *they* can trace everything, while the payment processors can see only that they need to, like for credit/debit cards.

If done, CBDC can coexist with cash for long time, actually. It will be a cheap alternative to banks, alternative that works also in the non banking days... with a catch: all your payment details will be registered everywhere, even more eagerly than if you use now banks/cards for everything. Some will care. Some won't. It's just a new leap in surveillance. And how else can it be achieved better than by convenience?

[moneystery]

nowadays the trend is that countries globally are starting to develop their digital currencies to catch up with the massive development of cryptocurrency today. the purpose of this digital currency is the same as fiat, but it can be used by everyone in their transactions, and it is different compared to e-wallets, because it was launched directly by the government.

and i think that this digital currency will not replace fiat completely, instead it will coexist and complement each other. because no matter what, fiat is still needed by people, but those who want to be practical can choose digital currency.