PurposeThis paper delves into the discourse surrounding central bank digital currencies (CBDC) from the perspective of citizens’ views expressed on Twitter, on the potential implementation of a digital euro. The paper sheds light on citizens’ sentiments regarding CBDCs in relation to the euro and the euro area.Design/methodology/approachUsing “TextBlob” sentiment analysis, this paper analyzes 4,462 Tweets containing the keywords “cbdc” and “euro” posted between September 14, 2018, and June 19, 2023. It explores citizens’ perceptions and concerns, as well as the general sentiment conveyed by the Tweets, through sentiment analysis and word-cloud generation. Text analysis and the “KMeans algorithm” are used to identify similar groups of Tweets. Statistical analysis of Term Frequency-Inverse Document Frequency (TF-IDF) keyword values in each cluster provides information about the relative distribution of words within clusters. In a further step, sentiment analysis is performed on each cluster by rating it positively, neutrally or negatively to identify the relevant dominant themes.FindingsThis paper reveals the evolving nature of CBDC-related discourse on Twitter over a four-year period, demonstrating a slight overall trend of positive sentiments. The distribution includes Tweets with a pronounced negative and positive sentiment, highlighting the need for clear and citizen-friendly communication through social media channels (such as Twitter or LinkedIn) in addition to the traditional channels used by official institutions.Research limitations/implicationsThe extraction of Tweets was limited to English; bilingual Tweets containing English words were also considered. Future research could be expanded to include Tweets in additional languages and compare them to English Tweets. Geographical data on the origin of the Tweets were not considered due to potential inaccuracies resulting from the use of VPNs.Practical implicationsThe findings highlight citizens’ views, expectations and perceptions on the digital euro as a type of CBDC, suggesting ways in which the European Central Bank (ECB) can ensure customer satisfaction with its successful implementation.Originality/valueThe originality of the article revolves around the focus on the digital euro and on analyzing European citizens’ opinions regarding its implementation. In contrast to previous literature, this research discusses critically the pros and cons and possible design aspects of the new digital euro, by taking a citizen-centric approach and focusing solely on one type of currency. Technological advances and the digital era have left their mark on how society communicates and behaves. The implementation of CBDCs will affect the digital society. Therefore, the paper sparks a debate about European citizens’ sentiments toward adopting the digital euro, as a new digital currency, which will impact their lifestyle and financial decisions.
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