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CBDC/digital euro

A central bank digital currency (CBDC) is a digital currency issued by a central bank. In the case of a retail CBDC, the CBDC is available to the private end-user. The ECB uses the term “digital euro” to define a euro CBDC.

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Stablecoins

Stablecoins are crypto assets that maintain a (relatively) constant price due to a stabilization mechanism and are therefore not subject to high volatility. Stability is ensured, e.g., by holding reserves in fiat currencies, government bonds, or other assets. Euro stablecoins hold euros as the underlying reserve.

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"The digitalization of the monetary system is progressing. In addition to private sector initiatives, such as the Facebook-initiated Diem project or other stablecoin initiatives, central banks are also working on their own digital currencies. The monetary system will thus undergo fundamental changes over the next decade."

Jonas Gross Digital Euro Association

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Programmable euro

The programmable euro describes a form of the euro that allows programmable payments. It includes DLT-based forms of the euro, e.g., as a euro stablecoin, tokenized commercial bank money, tokenized e-money, or as a (DLT-based) CBDC. Primary benefits of such a form of the euro are related to increased automation, higher transaction speed, and lower counterparty risk.

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Crypto assets

We define crypto assets as digital database systems based on cryptography and blockchain technology that manage monetary value. Nowadays, the most relevant crypto assets are Bitcoin and Ether. In contrast to bank transfers, transactions of crypto assets do not require financial intermediaries such as banks.

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"The programmable euro will play a crucial role, especially for future business models in the field of Industry 4.0 and mobility. The underlying infrastructure could and should be developed in the short term by private companies in the financial sector."

Philipp Sandner Digital Euro Association

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Who we are

The Digital Euro Association (DEA) is a think tank specializing in central bank digital currencies (CBDCs), stablecoins, crypto assets, and other forms of digital money. In particular, we focus on the digital euro. Our mission is to contribute to the public and political discourse through research, education, and by providing a platform and community for policy-makers, technologists, and economists to discuss digital money-related topics. We are committed to independence and excellence, aiming to set the agenda and to shape policy by encouraging new ideas and forward-thinking in the field of digital money. We target new and innovative topics such as the digital euro and Diem, but also “classical” crypto assets such as Bitcoin and Ether.

What we offer

Education

The DEA provides education about the digital euro following a diverse approach. This includes written publications as well as podcasts, videos or interactive webinars and panel discussions. We strive to cover a variety of topics in the fields of digital money and the digital euro to effectively target the demand of every member of the community.

Community

One of our main goals is to create a community of experts, scholars, technologists and further interested parties keen on learning more about the digital euro. Through the aggregation of expertise, we aim to support  the public discourse and shape the digital euro in accordance with our values and ideas.

Collaboration

The DEA envisions to propel the development of the digital euro through the power of interdisciplinary collaboration. We are a platform that enables participants to come together, share their knowledge, and start working on joint projects. Thereby, we act as an accelerator for the introduction of the digital euro.

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Frequently Asked Questions

What is the goal of the Digital Euro Association (DEA)?

The Digital Euro Association (DEA) aims to provide views and ideas on the topics of digital money and the digital euro. Thus, we aim to shape the public dialogue and advance the discourse on various socioeconomic aspects in the field of the digital euro while being committed to independence and the highest academic standards.

Why should I support the Digital Euro Association?

The DEA as a think tank offers valuable information and insights on a multidisciplinary level. Amongst the most important advantages of supporting the DEA are access to this information and to the DEA network and the opportunity to contribute publications in the field of the digital euro.

How can I support the Digital Euro Association?
The best way of supporting the DEA is to become a part of the DEA community and be actively engaged in discussions on the digital euro. This can be done for example through participation in our DEA webinars, exchange with other DEA community experts and publishing articles via our DEA blog. If you want to stay up to date, feel free to subscribe to our DEA newsletter.
What is the programmable euro?

The programmable euro describes a form of the euro that allows programmable payments. It includes DLT-based forms of the euro, e.g., as a euro stablecoin, tokenized commercial bank money, tokenized e-money, or as a (DLT-based) CBDC. Primary benefits of such a form of the euro are related to increased automation, higher transaction speed, and lower counterparty risk.

What are the advantages of a programmable Euro?

The main advantage of the programmable euro is that payment flows can be made "programmable". This programmability promises high automation potential for all types of payments. In addition, payments in the programmable euro can be processed more quickly, as the use of DLT implies that a majority of intermediaries are no longer required and delivery versus payments can be processed on one platform. The decentralized storage of transaction data also makes the system more resilient, making a system failure less likely.

Do I have to pay a fee to participate in the DEA ?

No. Participating in the DEA community as an individual is completely free of charge.
Should you want to become an institutional member of the Digital Euro Association, please see more information here