Dutch Central Bank is Ready to Be Digital Euro Proving Ground
The Dutch Central Bank (DNB) shared its desire to experiment with digital currencies issued by the European Union central banks.
DNB released a 45-page CBDC report, in which it says that it’s ready to become a digital currency proving ground for the European Union with research and development of its own and Europe-wide digital currency.
A digital Euro is intended to provide faster and more cost-effective payments for all member states who participate and the Netherlands can become a proper testing ground. As DNB said, with this step the confidence in the monetary system would increase.
As the report states, this step is also somehow in answer to the reducing use of cash in the Netherlands and other European countries. As the Dutch Central Bank says, as the usage of cash is falling, “this raises the question whether the central bank should issue a form of money that better fits their needs.” Around two thirds of all payments in the country are digital.
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