‘A Digital Euro is Due, if not Overdue’

Thus said Ralph Wintergerst, CEO of Giesecke + Devrient (G+D), to the Frankfurter Allgemeine newspaper before Christmas. G+D has invested significantly in this area to position itself for the future and to support its worldwide relationships with central banks. It is confident that cash will remain a core payment instrument but sees a future shift to Central Bank Digital Currency (CBDC).

G+D is working with 20 central banks and governments, with just under 10 of those talks at a stage that could lead to pilots. G+D started 'Project Filia' three years ago to develop the technology for digital money which is backed or supported by central banks.

This speculative investment has required the creation of a capability to create digital money, a distribution system and media that is secure for the storage of virtual money. The major technical challenge has been around safeguarding the currency from criminals. This is a constant task and G+D described their approach as employing 'post-quantum cryptography'.