A recent survey by Germany’s central bank, the Deutsche Bundesbank, shows that Germans are surprisingly open to the digital euro, the European Central Bank’s (ECB) proposed digital currency. However, the survey also highlights a significant knowledge gap that needs to be addressed for the system's full potential to be realized.

Despite 60% of Germans surveyed having never heard of the digital euro, 50% indicated they might use it if it were offered as an additional payment option. This suggests a public interest in innovative payment methods, even with limited awareness.

However, misconceptions persist. About 30% of respondents incorrectly believed the digital euro would completely replace cash, underscoring the need for clear public education. The ECB has consistently stated that the digital euro would complement cash, providing a secure and convenient option for digital transactions.

Privacy is a major concern for Germans, with over 76% rating it as "very important" or "important" in considering the digital euro. This concern likely arises from ongoing data privacy issues in the digital age. The ECB has assured users that the digital euro will offer stronger privacy protections than existing commercial payment solutions.

Bundesbank board member Burkhard Balz emphasized the importance of comprehensive public information campaigns to address these gaps. Under current plans, the digital euro could be used for payments by 2028.

The ECB plans to bridge the knowledge gap through public information campaigns, explaining that the digital euro will complement, not replace, cash. They also aim to build a system prioritizing user privacy, ensuring that transaction details remain confidential between the payer and payee without unnecessary data collection by authorities.

The digital euro is currently in its initial phase, focusing on finalizing regulations and exploring distribution channels, with this phase expected to conclude by October 2025. Everyday use of the digital euro by Germans and other Europeans is anticipated to begin no earlier than 2028, according to Bundesbank estimates.