{"id":424027,"date":"2022-03-30T23:15:00","date_gmt":"2022-03-30T20:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ecb-official-suggests-importance-of-physical-stores-accepting-digital-euro\/"},"modified":"2022-03-30T23:15:00","modified_gmt":"2022-03-30T20:15:00","slug":"ecb-official-suggests-importance-of-physical-stores-accepting-digital-euro","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ecb-official-suggests-importance-of-physical-stores-accepting-digital-euro\/","title":{"rendered":"# ECB official suggests importance of physical stores accepting digital euro"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413322ece9d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413322ece9d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ecb-official-suggests-importance-of-physical-stores-accepting-digital-euro\/#%E2%80%9D_ECB_official_suggests_importance_of_physical_stores_accepting_digital_euro_%E2%80%9C\" >&#8221; ECB official suggests importance of physical stores accepting digital euro &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_ECB_official_suggests_importance_of_physical_stores_accepting_digital_euro_%E2%80%9C\"><\/span>&#8221; ECB official suggests importance of physical stores accepting digital euro &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMjM5YTZkNTEtYjdiMi00OTVhLWIzZjItMDEzMDk4NmZkZjMyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Fabio Panetta, an executive board member of the European Central Bank, said focus groups exploring the potential rollout of a digital euro hinted the ability to use the digital currency at online and physical stores could be a key feature.<\/p>\n<p>In a written statement released Wednesday, Panetta <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/press\/key\/date\/2022\/html\/ecb.sp220330_1~f9fa9a6137.en.html\">broke<\/a> down the findings of ECB focus groups on digital payment methods commissioned in September 2021, which suggested people were more likely to accept a digital euro accepted in physical and online stores and allowed easy person-to-person payments. According to Panetta, all merchants would need to accept a digital euro to see adoption trends like those the fiat euro experienced 20 years ago.<\/p>\n<p>\u201cThe introduction of euro banknotes made it possible for us to pay with physical euros anywhere in the euro area,\u201d said Panetta. \u201cSo it is no surprise that people expect to be able to use the digital complement to banknotes wherever they can pay digitally or online.\u201d<\/p>\n<p>Findings from the focus groups also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/paym\/digital_euro\/investigation\/profuse\/shared\/files\/dedocs\/ecb.dedocs220330_report.en.pdf\">hinted<\/a> that many members of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> public and merchants were unfamiliar with a digital euro and feared that cash was being phased out as the number of use cases for the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> increased. However, once the concept was explained to them, members of the focus group from the general public said being \u201cwidely accepted in all kinds of physical shops and online\u201d was the most desirable feature for a digital euro, while merchants suggested high demand would be their biggest driver. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A digital euro can only be successful if it meets the payment needs of Europeans, says Executive Board member Fabio Panetta. Focus groups have provided us with key input for the project.<\/p>\n<p>Mr Panetta\u2019s speech <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/XVYfXtmgpN\">https:\/\/t.co\/XVYfXtmgpN<\/a><br \/>Read the report <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/enbOpUWFfl\">https:\/\/t.co\/enbOpUWFfl<\/a><\/p>\n<p>1\/5 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/euAyFoO24J\">pic.twitter.com\/euAyFoO24J<\/a><\/p>\n<p>\u2014 European Central Bank (@ecb) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ecb\/status\/1509177530867195914?ref_src=twsrc%5Etfw\">March 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nPanetta added that the ECB would consider these features alongside concerns over privacy in response to the public consultations the central bank conducted between October 2020 and January 2021. He said the ECB would conduct another round of focus groups on the digital euro toward the end of 2022, providing data that could be used to determine relevant policies:<\/p>\n<blockquote><p>\u201cWe are getting a clearer picture of what citizens and merchants want, so we can finetune all the design features of a digital euro before any potential issuance. And co-legislators have a key role to play, for instance to enable greater privacy.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>EU finance chief says digital euro bill coming in early 2023<\/em><\/strong><\/p>\n<p>The European Central Bank has been exploring the development of a digital euro as interest in central bank digital currencies seems to be growing across the world. The Central Bank of the Bahamas was the first nation to release a CBDC in October 2020. China began trials of its digital yuan in 2020, later making it available to international\u00a0athletes at the Beijing Winter Olympics in February. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ecb-official-suggests-importance-of-physical-stores-accepting-digital-euro\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; ECB official suggests importance of physical stores accepting digital euro &#8220; Fabio Panetta, an executive board member of the European Central Bank, said focus groups exploring the potential rollout of a digital euro hinted the ability to use the digital currency at online and physical stores could be a key feature. In a written&#8230;<\/p>\n","protected":false},"author":1,"featured_media":424028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMjM5YTZkNTEtYjdiMi00OTVhLWIzZjItMDEzMDk4NmZkZjMyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75159,75603,75604,72705,70934],"class_list":["post-424027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-digital-currency","tag-ecb","tag-euro","tag-european-union","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=424027"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/424028"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=424027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=424027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=424027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}