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Turner Wright <\/a>– September 11, 2020<\/p>\n The pandemic has seen consumers adopt digital payments in increasing numbers and the trend was accelerating, said the President of the European Central Bank (ECB) Christine Lagarde.<\/p>\n She also indicated a panel of euro-zone central bank officials is set to reveal a verdict on a European central bank digital currency (CBDC) imminently.<\/p>\n Speaking at an online conference hosted by Deutsche Bundesbank on Sept. 10, Lagarde, stated<\/a> that EU residents had embraced digitalization, with e-commerce sales increasing roughly 20% between February and June, even as total retail sales declined<\/a> 1.2%. She said the volume of online payments had experienced \u201cdouble-digit growth rates\u201d since the start of the outbreak.<\/p>\n \u201cThe pandemic has served as a catalyst, accelerating the transition towards a digital new normal,\u201d Lagarde stated. \u201cA vast majority of consumers expect to continue to use digital services as often as they do now or even more often.\u201d<\/p>\n Other institutions have reached the same conclusion as data comes in regarding the economic fallout of COVID. An August report from Singapore\u2019s DBS Bank stated<\/a> that \u201cthe ongoing pandemic has added fuel to the move toward a society with less cash dependence.\u201d<\/p>\n Lagarde supports the ECB developing a CBDC<\/a> to address the move towards digitalization, in addition to faster and cheaper cross-border payments. Last September, when she was the head of the International Monetary Fund (IMF), the ECB president said she would focus on ensuring EU institutions adapt<\/a> to the changing financial environment by being open to crypto.<\/p>\n https:\/\/cointelegraph.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Turner Wright – September 11, 2020 The pandemic has seen consumers adopt digital payments in increasing numbers and the trend was accelerating, said the President of the European Central Bank (ECB) Christine Lagarde. She also indicated a panel of euro-zone central bank officials is set to reveal a verdict on a European central bank digital … Continue reading Pandemic has accelerated adoption of digital currency: ECB President<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[18],"tags":[10925,15225,7631,15224,1576,149,15223,1646,3680],"class_list":["post-18927","post","type-post","status-publish","format-standard","hentry","category-warning","tag-bundesbank","tag-crypto","tag-digital-currency","tag-digitalization","tag-ecb","tag-economy","tag-euro-zone-central-bank","tag-imf","tag-pandemic"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8fAkI-4Vh","_links":{"self":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/18927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/comments?post=18927"}],"version-history":[{"count":1,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/18927\/revisions"}],"predecessor-version":[{"id":18929,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/posts\/18927\/revisions\/18929"}],"wp:attachment":[{"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/media?parent=18927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/categories?post=18927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/setapartbytruth.org\/wordpress-watchman\/wp-json\/wp\/v2\/tags?post=18927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}