In the meantime, we take a keen interest in digital innovation and in the changing expectations of money users, and we are refining our thinking on CBDC – both within the ECB, the Eurosystem and in the international central banking community. CBDC design choices are not merely technical questions. They have policy and legal implications.
This is why we are devoting so much attention to every detail. If and when the time comes, we want to be ready – and we will be ready. 1 See Boar, C., Holden, H. and Wadsworth, A. (2020), “Impending arrival – a sequel to the survey on central bank  digital currency”, BIS Paper, No 107.