Germany's central bank, the Deutsche Bundesbank, has revealed mixed results from a survey on public perception of the digital euro. While nearly half of respondents (around 50%) expressed openness to using the digital currency, concerns about surveillance remain.

The survey, conducted in April 2024 among 2,012 people, found that many Germans are unfamiliar with the concept. Only 41% of participants had prior knowledge of the digital euro, highlighting the need for public education.

Despite the knowledge gap, a significant portion of respondents (around half) were open to using the digital euro as an additional payment option. This openness extended even to those previously unaware of the concept.

However, the survey also revealed a concerning trend. Eight percent of respondents expressed worries that the digital euro could be used for government surveillance of citizens' payments. This highlights a potential roadblock for wider adoption.

Deutsche Bundesbank president Joachim Nagel acknowledged the need for clear communication, stating, "a great deal of information still needs to be provided." He emphasized the importance of prioritizing privacy protection in the development of the digital euro.

Further complicating matters, some respondents (16%) mistakenly believed the digital euro to be a cryptocurrency. Burkhard Balz, a Deutsche Bundesbank executive board member, addressed this misconception, clarifying that the digital euro will be a stable central bank digital currency, unlike the volatile crypto-assets like Bitcoin and Ethereum.

This survey builds on a previous one conducted in May 2024, which indicated that nearly 90% of German households were receptive to the idea of a central bank digital currency during times of financial stress. However, the new survey suggests that public education and addressing privacy concerns will be crucial for the successful launch and adoption of the digital euro in Germany.