The European Central Bank (ECB) has registered the trademark ‘digital euro’. Legal representatives of the ECB filed the application with the European Union Intellectual Property Office (EUIPO) on 22 September. An ECB spokesperson confirmed the application to journalists from Bloomberg.
Will the ECB introduce a digital euro?
It is not yet clear whether the ECB really wants to make a digital euro, but it looks more and more like it now that this trademark has been registered. At the moment, the central bank is still investigating its own digital currency, or CBDC.
In any case, the Ethereum Code sees a need to renew the euro. ECB President Christine Lagarde has spoken on this subject several times. Last week, in a speech to the European Parliament, she said that a public consultation will be held in a few days’ time.
Last month, Lagarde said that there were still no concrete plans for a digital euro:
“So far, the Eurosystem has not taken a decision on whether to introduce a digital euro. But like many other central banks in the world, we are examining the benefits, risks and operational challenges that this will bring”, she said in a speech last month.
“We have a duty to play an active role in weighing up the risks and benefits of payment innovation so that money continues to serve Europeans well”.
Lagarde previously spoke positively about digital stablecoins.
China is likely to be the first
CBDCs are totally hip, central banks worldwide are investigating the possibility of creating their own digital currency or even already have one.
China is probably the first major country to market a CBDC. The digital yuan is being tested in more and more cities, and it is expected that the digital currency will be launched sometime in the next few years.
All right, some countries are earlier, such as the Marshall Islands. According to their own words, this archipelago is the first country in the world to have its own official cryptocurrency. Until recently, payments were made with US dollars.