Central Bank Digital Currency in the European Union

The aim of conducted research was to analyze current use of cash and assess potential demand for digital currencies issued by central banks in the largest economies of the European Union. A logistic function was applied in order to estimate future use of cash in analyzed countries. The results provide evidence that the use of cash varies to a large extent across the largest economies in European Union. It was identified that introducing a central bank digital currency will be most beneficial for Germany, Austria and Italy. The second group of beneficiaries will be Sweden and United Kingdom.  Introducing public digital currency will be least beneficial for France and Poland.