Central Bank hasn’t taken into consideration the introduction of a digital euro on the Montenegrin market, this institution has stated.
CB representatives have said that they haven’t talked with the ECB about that project and that it will be the topic of the forthcoming consultations.
“Some governments encourage digital payments, as a way of settling or reducing money laundering problem, financing terrorism and grey economy. This would also prevent robberies, stimulate financial system, eliminate ash management costs,” CB representatives have explained.
The first phase of observing advantages and disadvantages of digital euro, as well as its technical feasibility, is currently underway.
The first advantage of the digital euro reflects in the possibility of monitoring transaction movements, thus almost completely disabling money laundering activities and transactions carried out in the grey economy zone.
“Many costs, from physical cash manipulation to the reduction of the number of counter and other workers will be reduced. Fast development of IT technology, mobile phones and numerous applications promote such forms of payment. We don’t have to carry money with us or think about if we have enough cash to pay,” CB has stated.
They have pointed out that this is a very convenient means of payment which enables speedy transfer of money and offers possibility of using mobile phones as wallets.
Anyone could pay with a digital euro, anywhere and anytime.
“Digital euro should be designed in such a way that everybody could use it in everyday life. Saving and investment systems won’t differ considerably, but they will be carried out without physical money,” CB has said.
They have stressed that cyber crime is one of the fastest-growing segments of crime.
“Therefore, before digital euro is introduced and used, all segments of its functionality will be tested,” CB representatives have concluded.
