The European Central Bank has started a project to create a digital euro and plans to launch it by 2026. The idea evolved when more consumers started making online transactions using cryptocurrencies during the pandemic. Markus Will, a financial expert at the University of St. Gallen, remarks that digital currencies need to be regulated and secured since digital payments will increase. In fact, several other countries like England and Japan are also researching to create something like e-euro. The upside to this digital currency would be no service charges, and you can use your regular card or smartphone for payments.