Smart contracts for automated autonomous payments, decentralised finance, and micropayments are just a few examples of the innovative applications that one could imagine thriving in a future CBDC ecosystem. 3 The “recipe for success” for a digital euro But how could a digital euro become a success? More precisely, how should it be designed so as to add value to the existing payments ecosystem?
This is exactly what we are currently working on in the digital euro project. Since October 2021, experts from the ECB and national central banks have been collaborating in an investigation phase set to last 24 months. The results of how a digital euro might be designed will therefore be presented to the ECB Governing Council in October of this year.