This project will focus on interbank transactions. This is different from the previous Central Bank Digital Currency (CBDC) project from Banque de France. CBDC focuses on the development of a "stable coin" that will represent a digital form of banknotes where you will be able to hold digital Central Bank money. As explained in my previous article, this is quite different from the money you transfer by public bank transfers.
The DIBC (Digital Interbank Currency) project is exploring possibilities of the exchange of assets and fiat on blockchain.
Assets in digital form are well known in the Tezos ecosystem as digital securities, or security tokens which are issued regularly on Tezos in the form of STO's. Tezos has established itself as an authority in this field, which materialized in the past months in over $100 million worth of STO launches and close to half a billion worth of STO's announced on Tezos in the past couple of months.
Fiat in digital form are stablecoins which are quite a lot less complicated.
"The project will explore how financial transactions involving digital assets can be settled
on platforms initially using Ethereum and Tezos technologies. Participants will particularly
consider the implications of ‘atomic’ delivery-versus-payment settlement of tokens or
regulated securities exchanged on a blockchain - where security tokens and the cash
tokens exist on the same ledger." - Source
The list of project members is impressive: BNP Paribas is one of the largest banks worldwide with 202,624 employees, active in 72 countries and 2,040 billion Euro's worth of assets. Crédit Agricole CIB is active in 32 countries with 7,000+ employees and client coverage dedicated to large French corporate and international clients. Caisse des Dépôts is part of the government institutions under the control of the Parliament, also known as the "investment arm" of the French State. It has 138,196 employees and 155 billion EUR worth of assets.
Second Digital Bank Currency project
In September this year, Tezos was announced to be one of the eight selected parties for further development of the CBDC experiment for Banque de France. This project is still ongoing.
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