To some people it might seem like in the digital age everything is transient.
Netflix replaced the good old DVDs, podcasts the radio and so on…
Is the so called “digital euro” just the next logical consequence in this story of digitalization?
The PR team had the chance to interview Tamara Ferreira Schmidt, the executive director of the Digital Euro Association (DEA), a specialist in Financial Engineering, Capital Markets and Derivatives.
Schmidt explained the main difference between the digital euro and the money we already see online, when we check our bank accounts.
What we have now is commercial bank money, but not central bank money.
The digital euro will offer the customer another possibility to pay something. You could either pay with your bank money or with the new currency.
Nevertheless, Schmidt still sees challenges till the official launch of the “digital euro”. Even though the investigation phase will end in September 2023, this does not mean the start of the “digital euro”. The end of the investigation phase will only lead to the decision whether to go ahead or not. In the case of the answer “Yes”, this decision would mark the planning of a development date.
Schmidt is careful with predictions but thinks it could be realized in 2027.
The biggest challenge in her opinion is to solve the question, how this big change could work globally.
No wonder Schmidt is so dedicated, as there is a lot of work to do.
Tomorrow, another article will be published, talking about what motivates Schmidt to keep working in this field.