According to the Dutch National Bank (DNB), crypto currency offers valuable know-how for banking sector
DNB offered itself to serve as European central bank for digital currency for the euro area.
A smart and complex payment system could increase demand for crypto currency. Moreover, it offers opportunity to significantly reduce transaction costs. Those are main benefits of digital currency, underlined in a report by the Dutch National Bank. “Crypto currencies could contribute to diversity and innovation of payment system,” DNB added.
The Dutch Central Bank has seized the opportunity to increase its influence in euro system. So far, implementing digital currency throughout Europe has only been discussed in France. The French suggested experimenting with digital currency as an integral part of the monetary system. The Dutch Central Bank has offered its services for research, development and deployment center of future European digital money.
Popularity of cashless payments, which we may refer to as digital payment, has been growing rapidly in the Netherlands. Therefore, it makes sense that the country came up with the idea. In last three years, number of cash withdrawals from ATMs has significantly dropped, while cashless payments grew. Together with Sweden, the Netherlands is becoming one of European cashless societies.
