According to TechFlow, on September 18, Coindesk reported that Deutsche Bank’s latest survey showed that although 94% of central banks around the world are exploring digital currencies (CBDC), consumers are still cautious about their use. The bank surveyed 4,850 consumers in Europe, the United Kingdom and the United States in March 2024.
The survey results show that: 57% of respondents said they prefer to use debit or credit cards rather than CBDC; 44% of respondents said they prefer to use cash rather than CBDC; 59% of consumers believe that cash will always remain relevant; only 16% of respondents believe that CBDC will become mainstream; 31% of respondents said they prefer to use central bank-backed cryptocurrencies rather than private versions.
Deutsche Bank analysts Marion Laboure and Sai Ravindran pointed out that although the COVID-19 pandemic has accelerated the transformation of digital payments, especially among Generation Z, cash will not disappear soon. The survey also showed that privacy issues are a key concern for consumers, especially European consumers who prefer to use cash to protect privacy.
