The Association of German Banks (Bankenverband), has voiced its opinion in a new research paper indicating the need for a “programmable digital euro”. The group, which consists of 11 member associations and over 200 commercial banks, pointed out the importance of virtual currency in the new age digitization of payment tools.
The paper noted how digital currencies such as Libra has garnered a considerable amount of attention as to how it might shape the digital fiscal landscape of the future. Nevertheless, Libra has also been a constant source of political and economic conflict. This led the Association of German Banks to dive into the endless possibilities of an innovative, but a mainly sustainable monetary system, with appropriate requirements to ensure the stability of the same.