Practical features

have acquired a digital root identity to independently issue subidentities for machines or other entities in their corporation. This would enable transactions that are not relevant to tax or banking regulations to participate independently in the payment system. To ensure a legally certain allocation of the subidentities, it would be possible at every stage to trace these back to the issuing root identity.

Practical features

The establishment of a digital variant of the euro also throws up a wealth of questions regarding its operational implementation. For example, the digital euro must consist of a standard solution that is fully interoperable with other payment systems (foreign currency or crypto assets). Payments outside of the EU must be easy and convenient to perform through the future European programmable and digital payment infrastructure. The degree of interoperability will have a direct impact on the acceptance and appeal of the digital euro on the international level. Furthermore, it must be easy to integrate the digital euro and the technical systems on which it is based into existing payment networks and processes, irrespective of the specific payment system and form of money into which it is to be exchanged (cash, demand deposits, etc.) and of the type of business partner involved (citizens, enterprises, automated systems). The denomination and availability of the digital euro should have a high degree of flexibility. The denomination in general should be based on that of the SEPA payment system but should also include the option of up and downscaling as required. We think it is already clear today that the use of subcent amounts is an important functionality. From a business perspective it is also essential to be able to work with very high amounts (e.g. in connection with corporate financing and acquisitions for example) as this is commonplace in payments between enterprises. In terms of availability, the standards should be equally high. Payment in digital euros should generally be possible at all times and everywhere. If the paying party and/or recipient of the payment is outside the data network, it should be possible at least to a limited extent to use the digital euro via a local, secure infrastructure (offline function). Citizens and enterprises outside of the EU should also be able to use the digital euro.