European Central Bank experts: “The digital euro will be released through 4-5 years old"

Several experts from the Central Banks of European countries agreed, that it will take four or five years to create a proof of concept for the digital euro.

During the panel discussion
titled "Updating Money to the Digital Era: introduction digital euro "participants in the event agreed with, that the current task of the ECB is primarily, To introduce everyone to the features of digital euro, postponing any implementation of the concept for the future.

Expert on market infrastructure of the European Central Bank (ECB) Austia Shostaka (Austėja Šostakaitė) stated, that the ECB will not decide on that, Is it worth it to switch to digital euros, Until the middle 2021 of the year. For now, She said Shostakaite, The question sounds like this: “How do we enter the ecosystem and how it interacts with the money of commercial banks?»

Presentation of Austaa Shostakayt during the panel discussion “Money updating before the digital era: Introduction of digital euros "

Advisor to the Central Bank of Sweden Karl Andreas Klaussen (Carl Andreas Claussen) said, that the Central Bank will complete the evidence of the concept of an electronic crown in February. However, before the real launch of the state cryptocurrency, “four or five years” remains. Klassen said:

“There are some legal issues, And this is a difficult situation, It's hard for us to deal with her. We need political support. We invited the parliament to create an expert committee to consider this issue ".

Recently, the Bank of Sweden called
parliament to legitimize state cryptocurrency as a payment tool. The Central Bank of Sweden began testing the first E-Krona state cryptocurrency in Europe in February this year. It should be noted, that Klaussen referred to the ambition of the Central Bank regarding the cross -border use of state cryptocurrency, Although few transactions occur in crowns, Given the relative usefulness of the euro or dollar. Shostakaite suggested, that external competition can accelerate the estimated deadlines for the development of digital euros.

“If foreign state cryptocurrencies appear or, perhaps, Steabelcoin Facebook, which will come to the eurozone, This can speed up the process ", – She said.

Last week, information appeared, that the Facebook Libra Stablecoin will be launched
in January 2021 of the year, Despite the regulatory problems. First, Libra will be provided only by the US dollar in the ratio 1:1.