The digital euro “Cash+” is a project by the European Central Bank (ECB) aimed at improving digital banking services and simplifying payments across Europe.
This project aims to create a universal, secure, and easy-to-use system that will allow citizens to access their accounts and carry out financial transactions online, even without an internet connection or in rural areas.
The goal is to make payments smoother and less expensive for users while ensuring the security and confidentiality of financial information.
The preparation phase is expected to end in October 2025, with a launch planned before 2030.
#The Risks ⚠️
Central Bank Digital Currencies (CBDCs) raise several questions regarding privacy, access to financial services, and technological dependency.
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Loss of privacy: The widespread use of digital accounts and electronic payments could lead to increased surveillance and the collection of personal data by authorities and companies.
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Power imbalance: A single, universally accepted currency could give more power to financial institutions and governments, with the risk of restrictive political decisions that may conflict with the public interest.
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Access issues: People without access to the internet or digital technologies could be excluded from the digital currency system, creating a form of financial and social segregation.
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Cyber risks and vulnerabilities: The massive use of a digital system could expose users to significant cybersecurity risks, such as phishing attacks, technical vulnerabilities, or extortion.
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Excessive dependence on technology: An economy relying heavily on a digital system could become vulnerable to technical disruptions and network outages.
#ECB Cash+ Roadmap
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October 2025 ⚠️
- Governing Council decision on the potential launch of the next phase
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Q3 2025- Draft regulation is ready
- Preparation of the Governing Council decision
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Q2 2025- Selection of suppliers
- Finalization of the architecture
- Assessment of data protection impact
- Positioning and awareness plan
- Details of the steering and deployment approach
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Q1 2025- Negotiation of purchase offers
- Launch of activities for the second round of procurement procedures
- Launch of planning for the next phase
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Q4 2024- Evaluation and negotiation of supply offers [in 'Cash+']
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Q3 2024- Sending purchase offer documentation to bidders
- Launch of user research
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Q2 2024- Launch of market discussions on the maximum allowable holding of "Cash+"
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Q1 2024- Review of the regulation by Regional Directors General (RDGs)
- Publication of the Call for Applications (CfA)
- Finalization of supply-related requirements
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Q4 2023- Implementation of the preparatory phase
- Publication of the ECB legal opinion
#Useful Links
This article was written entirely by the Collective.