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“Euro Digital will increase the range of payment options and enhance the flexibility of payment systems,” says Centeno.

“Euro Digital will increase the range of payment options and enhance the flexibility of payment systems,” says Centeno.

The Governor of the Bank of Portugal, Mario Centeno, says the digital euro will be able to combine the security and universality of cash with the benefits of electronic payments, adapting central bank money to the needs of more digital users.

During his opening speech at the first digital conference, Mario Centeno stressed that a research project is underway for the final version of the digital euro, the Eurosystem central bank digital currency.

He stressed that “the digital euro will increase the range of payment options and enhance the flexibility of payment systems.”

The Governor of Banco de Portugal recognizes that technological innovation has an impact on the way the Portuguese Central Bank carries out its mission, and highlights that the rapid development of technology, and its wide availability to consumers and other economic agents, has brought about changes in the way we work, communicate and perform our daily activities.

“I understand that in this rapidly changing world, Banco de Portugal will make an appropriate contribution. On the one hand, as a reference institution and example in adopting technology and training people for the development of the country, and on the other hand, supporting the efforts made by the financial system and economic agents in this regard.”

Centeno outlined Banco de Portugal’s strategic plan 21-25, in which priority should be given to the development and training of its personnel and investment in the integration of new necessary attributes, benefit from technological innovation to achieve digital transformation, and investment in integrated information management and modern data architecture.

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This aims to promote a more enlightened society, harness the benefits of digital transformation, and contribute to a regulatory framework that supports innovation and efficiency; and encourage the adoption of more secure payment solutions.

He stresses that “as a movement that brings together companies, universities, associations and the Portuguese state itself, MUDA has played a pioneering role in promoting greater participation of Portuguese in the digital space and in preparing society to face these changes”, adding that if it is associated, as an institutional partner, with some of the actions developed by this project.