Germans Express Mixed Views on Digital Euro, Survey Reveals,most don’t know what it is

A recent survey conducted by the Deutsche Bundesbank found that half of Germans could envision using the digital euro, although many are unfamiliar with its concept.

Out of 2,012 participants surveyed, 50% indicated that they could "definitely" or "probably" see themselves using the digital euro as an additional payment option. However, a quarter of respondents stated they would "definitely not" use it, while another quarter expressed uncertainty.

Respondents on whether they would use the digital euro — translated from German via Google Translate. Source: Deutsche Bundesbank

Surprisingly, three in five respondents admitted to having never encountered information about the digital euro. Among those who were aware of it, a significant portion lacked understanding, with some mistakenly associating it with cryptocurrencies or believing it would replace cash.

Just 17% correctly answered that it was a form of Eurosystem central bank-issued digital money that the ECB said would be available in addition to other payment methods, such as cash.

Respondents’ beliefs on the digital euro — translated from German via Google Translate. Source: Deutsche Bundesbank

Bundesbank President Joachim Nagel emphasized the necessity of providing more information about the digital euro, given the widespread lack of awareness and understanding among Germans.

Respondents highlighted privacy as a key consideration for the digital euro, with over three-quarters valuing enhanced privacy protections compared to existing digital payment methods. Nagel assured that Eurosystem central banks prioritize user privacy, claiming that the digital euro would offer superior privacy safeguards.

Importance ranking of the digital euro’s features — translated from German via Google Translate. Source: Deutsche Bundesbank

The digital euro is currently in a preparatory phase scheduled for completion by October 2025. Plans aim to finalize regulations and identify potential issuers. However, actual usage may not commence until 2028 at the earliest, according to Burkhard Balz, a board member overseeing the digital euro project at Bundesbank.

The survey underscores a divide among Germans regarding the digital euro, with significant interest alongside widespread ignorance. Addressing concerns about privacy and providing comprehensive information are crucial steps for the successful adoption of the digital euro.