The design of the digital euro

Annelieke A.M. Mooij

Chapter 7 in Designing the Digital Euro, 2026, pp 66-87 from Edward Elgar Publishing

Abstract: This chapter explores the use of blockchain, specifically decentralized ledger technology (DLT), in designing the digital euro. Building on the previous chapter's conclusion that programmable money is unlawful under current EU law, it focuses on addressing privacy and data security concerns. Blockchain offers benefits like enhanced security, transparency, and resilience but must comply with existing legal and regulatory frameworks. The chapter reviews DLT principles and the proposed dual-tier system involving payment service providers (PSPs) under European Central Bank (ECB) control. Key challenges include protecting data privacy and enabling account switching during emergencies. Drawing lessons from blockchain use in Sweden and Georgia, it emphasizes the need to integrate technology within a robust legal framework. The chapter concludes that blockchain is not a universal fix but a valuable tool when carefully designed, setting the stage for detailed design discussions ahead.

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