Digital Central Bank Currency: Being There Isn’t Everything

The European Central Bank (ECB) wants to push ahead with the “digital euro” project. However, the digital euro is by no means the only and possibly not even a good (let alone the best) way to respond to the comprehensive change in the world of money. In terms of its reputation, the ECB must act with the utmost caution. Instead of launching its own project on the market in just a few years, the ECB would be well advised to take a step back and support a competition of ideas that is open to all technologies.