Designing the digital euro: macro-level

Annelieke A.M. Mooij

Chapter 10 in Designing the Digital Euro, 2026, pp 128-149 from Edward Elgar Publishing

Abstract: This chapter addresses governance, privacy, and accountability challenges in the digital euro's macro-design, assuming a permissioned private blockchain. It concludes that central governance by the European Central Bank (ECB) best ensures legal compliance and privacy. A lex cryptographica framework enforces rules, with the ECB verifying nodes and PSPs managing data integrity. AI-driven biometric verification raises concerns under the EU Artificial Intelligence (AI) Act, requiring clear accountability. Data governance intersects with (EU-)GDPR, especially on international data transfers. While biometric authentication improves convenience, it risks law enforcement access and needs strong safeguards. Localized device storage reduces risks but poses security issues. The chapter stresses a structured, legally sound ecosystem balancing efficiency, privacy, and oversight. Blockchain's role must align with legal frameworks to ensure user trust and security.

Keywords: Digital Euro; CBDC; ECB; GDPR; Blockchain; Accountability (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035390632
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