IBM offers advice for a successful implementation of the digital euro

Five members of IBM Consulting have created a list of points that the European Commission could take into account to optimize its proposed legislation on the digital euro.

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IBM has some ideas about what it will take to make the digital euro a success, which it shared in a recent blog post. He suggests five elements for designers to help the European Central Bank's (ECB) digital currency “enter the highly competitive, multifaceted and heterogeneous payments landscape of the Eurozone”.

Certain points put forward by IBM are already reflected in the legislative proposal of the European Commission (EC). "Building on existing rails", the first point, is already provided for in the European Commission's plan, even if it can be extended, say the five authors. Simplicity will be key to initial adoption, they explained, and familiarity reinforces that.

Intermediaries will also have a role to play in the acceptance of the digital euro, and the digital currency should be designed to meet their needs:

“We see the need for a more granular ecosystem of intermediates. The future intermediate landscape of the digital euro should be considered at several levels. Planning more than one intermediary between the retail user and the digital components of the ECB euro would better support smaller intermediaries. »

Standardizing APIs would simplify integration and encourage competition, the message states.

Possible intermediation programs for the digital euro. Source: Digitale Perspektive

The EC proposal includes strong offline privacy safeguards that