According to U.Today, a recent report by Bloomberg reveals that Germany's general public remains skeptical about adopting the digital euro. Privacy concerns are the primary reason Germans prefer traditional cash over digital currency. The European Union is expected to decide next year whether to proceed with the implementation of the digital euro.
The digital euro aims to offer the highest level of privacy among electronic payment options. The offline version of the digital euro is designed to achieve the same privacy levels as cash. Both online and offline versions are anticipated to be supported within a single application. Users' payment data would be pseudonymized, ensuring that they cannot be directly linked to their transactions. Additionally, the data would not be used for commercial purposes, with only intermediaries having access to user data to comply with regulations.
Independent data protection authorities would ensure that the digital euro project operates in accordance with EU data protection laws. Currently, around 134 countries are exploring central bank digital currencies (CBDCs). In June, the Bank of Israel announced that it would not rush its decision regarding the digital shekel before the EU makes its move. The digital euro project entered the
