A recent survey conducted by the Deutsche Bundesbank, Germany's central bank, has shed light on the public's perception of the digital Euro, a Central Bank Digital Currency (CBDC) currently in development. The survey revealed that 50% of respondents would 'definitely' or 'possibly' consider using the digital Euro if it were an additional payment method.

However, the survey also highlighted a significant lack of awareness about the digital Euro, with three-fifths of respondents stating that they had 'never heard, read, or seen' anything about it. Among those who had heard of the digital Euro, 16% believed it to be a type of cryptocurrency, while only 17% correctly identified it as a CBDC.

The head of the German central bank emphasized the need for better education about the digital Euro, stating that 'a lot of information still needs to be provided.' This sentiment is echoed by the European Central Bank (ECB), which has announced that the digital Euro can be used offline, with transaction details known 'only to the payer and the payee.'

The digital Euro is currently in the preparatory stage, with completion expected in October 2025. The focus is on determining rules and identifying potential issuers. As the development of the digital Euro progresses, it is essential that the public is educated about its benefits and limitations to ensure a smooth transition to this new form of currency.

The survey results highlight the importance of effective communication and education about the digital Euro. As the ECB and other central banks continue to develop and implement CBDCs, it is crucial that they prioritize public awareness and understanding to ensure widespread adoption and acceptance.