##eil and fabio panetta, have proposed a two - tier remuneration system. [ 15 ] the basic idea is to set a limit on the amount of cbdc that consumers can hold at a non - negative interest rate. beyond this limit, lower interest rates could apply, thereby encouraging consumers to use private bank deposits as a store of value instead. yet, while curbing the risk of large - scale disintermediation, such limitations also lower the attractiveness of cbdc. central banks thus face a [UNK] trade - off when designing cbdc. on the one hand, it has to be attractive enough for consumers so that they accept it and can reap its beneﬁts. on the other hand, if cbdc were too attractive, it could disrupt the existing ﬁnancial system. recently, a high level taskforce of the eurosystem published a report that investigates various scenarios of introducing a digital euro. [ 16 ] and later, fabio panetta will present you his take on the future of the european payments market. i have mentioned some important issues regarding cbdc that still require further analysis. a thorough understanding of the effects and trade - offs of cbdc is imperative for us before we can weigh up the arguments and draw ﬁrm conclusions. therefore, the eurosystem has not yet decided whether to introduce a digital euro or not. and even if we were to opt for cbdc, its careful introduction would be an immense logistical and technical endeavour and, therefore, would be bound to take time. 3 other innovative payment solutions in any case, consumers should not have to forgo innovative, fast and cost - [UNK] payment methods. in a market economy, their needs and wants must take centre stage. importantly, offering new payment solutions to the public and interacting with customers should primarily be the task of the private sector. yet, individual needs and wants differ, and that ’ s why there is a broad product spectrum of solutions extending from traditional means of payment to digital innovations. [ 17 ] when considering the future of payments, consumers ’ preferences are key for identifying gaps in this spectrum and closing them. https : / / www. bundesbank. de / en / press / speeches / shaping - the - future - challenges - in - the - european - payments - market - 851850 5 / 9 01 / 12 / 2020 shaping the future – challenges in the european payments market | deutsche bundesbank the invention of the modern credit card back in 1950 illustrates

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