Authored by Daniel Ramirez-Escudero via CoinTelegraph.com,
The digital euro will be one of the most private forms of electronic payment, according to a data protection official from the European Union.
On Oct. 2, 2020, the European Central Bank (ECB) released a report laying the groundwork for its central bank digital currency (CBDC), the digital euro.The digital euro has been in its investigation phase since October 2021, during which ECB officials and bankers hypothesized about its possible design and purpose.
As of November 2023, the digital euro has entered the preparation phase, with possible legislative adoption expected by the last financial quarter of 2024.
If the ECB can stick to its roadmap, digital euro use cases could roll out by November 2025.
Despite still being in development, the digital euro is already facing resistance over privacy concerns.