This is what Austrians think about a digital euro
For one-third of respondents, data protection plays a crucial role. Financial incentives could not compensate for lesser protection. However, it is not a question of anonymous use versus internal bank transactions, as this option would only slightly increase the likelihood of use.
Up to Three Quarters Could Imagine Using Digital Euro
Under realistic assumptions - such as without financial benefits and with limited data protection - 45 percent of respondents would use the digital euro. In an idealized scenario with comprehensive protection, full anonymity, and monthly savings, this share rises to 74 percent, according to the OeNB. The willingness to use is particularly high among younger and digitally savvy individuals.
Based on its study, the central bank provides the following recommendations to policymakers for further development of a digital euro: Users should be secured in case of loss. Financial incentives increase acceptance. Data protection should be designed flexibly, according to user needs. A purely digital solution does not meet all requirements.
The digital euro, which is to be developed, is intended to offer a secure, state-guaranteed, and Europe-wide usable digital payment form as a complement to cash. As part of a so-called discrete-choice experiment, the OeNB surveyed around 1,400 randomly selected individuals aged 16 and over in Austria about various characteristics of a possible digital euro.
(APA/Red)
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