Pablo Urbiola: "Demand for digital euro is not clear yet" – Bits Media

One of the leaders of the Spanish Bank BBVA is concerned about the possible launch of digital euros. He questioned the satisfaction of consumer demand by state cryptocurrency.

Head of the BBVA digital regulation department in Madrid Pablo Urbiola (Pablo Urbiola) He called on European financial authorities to carefully study the consequences of launching state cryptocurrency. Urbiola said
at the seminar of the European Banking Federation, that despite the growing need to launch digital euros, It is not entirely clear, What are the needs of customers to satisfy the state cryptocurrency.

“Taking into account all innovations in the payment market, vaguely, What are the requirements of customers to satisfy digital euros, which cannot be satisfied as part of other initiatives ", – He said.

Pablo Urbiola emphasized, that the European Central Bank should take into account all the possibilities and risks of digital euros, taking into account various design options. According to him, The total ECB developed the structure should be quite flexible and allow private players to develop business models in conditions of competition. Urbiola noted, that the ECB needs to solve many problems, associated with digital euro:

"For example, If digital euros are aimed at reducing the use of cash, It should be developed as an electronic cash version – Easy to use, with basic functionality ".

but, If digital euro is called to respond to the threat of foreign state cryptocurrencies, "He must be able to reproduce some of the more advanced functions of these initiatives". According to Urbiola, Banks of Spain are ready for digital euros, And BBVA participated in preliminary tests along with fifteen other large banks.

Recently, a member of the Executive Council of the ECB Fabio Panetta said, that when switching to digital euros, ECB will better protect the confidential data of users, than private organizations. At the beginning of the month, the European Central Bank (ECB) released
Large -scale report, in which analysts evaluate the international role of the euro, and also discuss the prospects for the release of digital currencies.