ECB predicts digital euro could replace 256 billion euros in paper notes

Odaily News The latest report from the European Central Bank (ECB) predicts that the digital euro will replace some of the circulating banknotes, fundamentally changing the way Europeans use money, and bank deposits will also be affected. Although the digital euro project aimed at promoting central bank digital currency (CBDC) has not yet been approved, the ECB has begun to study its impact on the euro area's existing asset structure (including banknotes and bank deposits). It is estimated that for every 10 euros of digital euros issued, 5 euros of circulating banknotes can be replaced; for every 10 euros of digital euros issued, 3 euros of bank deposits will be lost. If European citizens are more receptive to the digital euro, 256 billion euros of banknotes can be replaced. (News.bitcoin)