The European Central Bank (ECB), located in Frankfurt, Germany, is the central bank of 19 European Union countries and helps maintain price stability for the euro. The ECB is now seriously considering and examining the digital euro by mid next year, in a report released by the central bank in October. They said the digital euro must be available outside the Eurozone, be cost-efficient, be environmentally friendly, and should not change rapidly in price as they move to digital settlements. The Euro system is conducting further analysis to fully understand the challenges and benefits that could emerge as a result of the introduction of a digital euro. A digital euro could be issued to support the digitalization of the European economy and the strategic independence of the European Union in response to a significant decline in the role of cash as a means of payment. The ECB expects private digital payments to be widely used in the euro area as a new monetary policy transmission channel, to mitigate risks to the normal provision of payment services. The issuance of a digital euro would affect in particular the activity and role of issuers of commercial bank money and providers of related payment services. A digital euro would be an electronic form of central bank money accessible to all citizens and firms—like banknotes—but in a digital form. The goal is to make daily payments in a fast, easy and secure way using the digital euro. It would complement cash, not replace it, and the Eurosystem will continue to issue physical cash in any case. The Governing Council has not taken a decision yet on whether to introduce a digital euro, and you can expect some real-world experimentation as early as later this year.