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In recent years, the world has witnessed a substantial surge in digitalization, revolutionizing the way we live, work, and transact. With this swift transformation, various countries and central banks have started exploring the concept of a digital currency. Europe, known for its forward-thinking approach, is embarking on a groundbreaking venture - the Euro Numérique.The European Central Bank (ECB) has been closely monitoring the rise of cryptocurrencies such as Bitcoin and the potential implications they may have on the traditional financial system. The development of the Euro Numérique aims to address these concerns while embracing the benefits that digital currencies offer.The…
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Introduction:Euro Numérique, also known as digital euro, is a proposed project by the European Central Bank (ECB) to create a central bank digital currency (CBDC) for the Eurozone. This report aims to provide a comprehensive overview of Euro Numérique, discussing its purpose, potential benefits and challenges, as well as its impact on the financial system and the economy.Purpose of Euro Numérique:The primary objective of Euro Numérique is to offer a secure and accessible digital form of the euro, complementing existing cash and electronic payment methods. It aims to provide individuals and businesses with a reliable and efficient means of conducting…