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6 Jan 2024

€1.2B

Amount of European Central Bank's Plan to Develop Digital Euro

The European Central Bank (ECB) plans [to issue nine-digit contracts](https://www.dlnews.com/articles/regulation/ecb-to-pay-more-than-one-billion-euros-for-digital-euro/) for five key parts of the digital euro project. E-commerce giant Amazon had been chosen to aid in creating the prototype for the Central Bank Digital Currency (CBDC). However, legislators raise concerns regarding the potential impact on privacy and question the overall necessity of a digital euro.