solutions that can be used by all groups in society. in my view, banks and other payment service providers will remain indispensable at the customer - facing point of service. two - time nobel prize winner marie curie once said : “ i was taught that the way of progress was neither swift nor easy. ” this is also true in the area of payments. nevertheless, we, as the bundesbank, are continuing to forge ahead together with the central banks in the eurosystem – very much in keeping with our task of ensuring efficient and secure payments. footnotes : 1. https : / / www. bis. org / publ / bppdf / bispap125. pdf [ https : / / www. bis. org / publ / bppdf / bispap125. pdf ] 2. https : / / www. ecb. europa. eu / press / key / date / 2020 / html / ecb. sp200921 ~ 5a30d9013b. en. html [ https : / / www. ecb. europa. eu / press / key / date / 2020 / html / ecb. sp200921 ~ 5a30d9013b. en. html ] 3. https : / / ec. europa. eu / commission / presscorner / api / files / document / print / en / ip _ 22 _ 2764 / ip _ 22 _ 2764 _ en. pdf [ https : / / ec. europa. eu / commission / presscorner / api / files / document / print / en / ip _ 22 _ 2764 / ip _ 22 _ 2764 _ en. pdf ] ; nfc ( near field communication ) = near - field communication 4. https : / / www. consilium. europa. eu / en / press / press - releases / 2022 / 07 / 18 / dma - council - gives - finalapproval - to - new - rules - for - fair - competition - online / [ https : / / www. consilium. europa. eu / en / press / press - releases / 2022 / 07 / 18 / dma - council - gives - finalapproval - to - new - rules - for - fair - competition - online / ] 5. bundesbank, payment behaviour in germany 2021, july 2022 ; https : / / www. bundesbank. de

##ystem, as potential issuers, enjoy a high level of confidence among enterprises and the public. this is a foundation that can be built on. a digital euro would safeguard the “ anchor function ” of government money in our two - tier monetary system in the digital age as well. this way, the ecb ( european central bank ) and the national central banks in the eurosystem would be able to carry on ensuring that payments are safe and efficient. last but not least, a digital euro also fits in well with other digitalisation efforts by european legislators. the digital identity wallet planned as part of the revised eidas regulation could be given an additional boost if a digital euro could also be held in such a “ government ” wallet. this brings us to the question of “ what ” a digital euro could deliver. 2 what could a digital euro deliver? in principle, a digital euro could combine efficient and secure payments with a pan - european reach. the following advantages are conceivable : • it would be a useful complement to cash, as people would also have access to central bank money in the digital sphere that would be secure, cost - effective and stable in value. • the digital euro could offer all groups in society quick and convenient access to a digital means of payment. this is where private payment service providers, with their customer expertise and experience, come in to design suitable solutions. less digitally savvy people could potentially pay with a digital euro on a payment card even without an internet connection, i. e. ( that is ) “ offline ”. • at the same time, the issuance of a digital euro would not be driven by business interests. the data generated by payments would not be used commercially by central banks. more than 340 million people would be able to use cbdc ( central bank digital currency ) to pay anywhere in the single euro payments area ( sepa ( single euro payments area ) ), across borders and independently of international providers. in order for the digital euro to be a success, it must serve the needs of users. to learn more about these, the eurosystem asked various groups in society and smaller merchants what they would expect from such a means of payment. payers said they want a solution that can be counted on to work in as many situations as possible and is accepted across all the sepa ( single euro payments area ) countries – and beyond, if possible. it should be technically simple, free of charge and secure.