Banque de France select candidates to test digital currency.

Banque de France select candidates to test digital currency.


The France Central Bank, Banque de France selected 8 candidates to their experiment in digital currency.

This entities will test solutions enabled by digital currency covering many areas, from asset transfer to advantage to use digital currency to bank transfers in Euro Zone, and the elected institutions are:

  • Accenture, Euroclear, HSBC, Societie Generale's Forge, Seba Bank, ProsperUS, LiquidShare and Iznes.

     

More and more Central Banks are entering to Blockchain world ans testing their CBDC (Central Bank Digital Currency).

As seen above the institutions above represent major Banks and Firms with some development in Blockchain such as Accenture and HSBC who have Customers assets worth more than $3 billion managed using Blockchain methods. The Banque de France conducted an recent experiment with Societe Generale to test digital Euro and the test was successful.

The applicants who will be part of the new Banque de France experiment will allow the France's Central Bank to explore more methods of exchanging financial instruments for central Bank money (CBDC), test regulation in Central Bank Digital currency to improve conditions to make cross border payments and making possible arrangements to make Central Bank digital currency available.

France isn't alone in this quest to create a CBDC, with Countries such U.K, Japan, Singapore, China among many others exploring contests to make a central money available that will make easier and faster payments across internal banks and cross-border payments more affordable. Late in 2019, the European Central Bank expressed also their interest in exploring a digital Euro if the Banks fail to deliver more faster, cheaper and affordable ways of payments.

The time of paper money is extinguished and digital era is coming!

No one will escape the Blockchain technology and no one will want to left behind.

Stay tuned for more Cryptocurrency & Blockchain news, don't forget to Download Brave Browser and protect your privacy also earn BAT tokens.

Find also the article on read.cash from my authorship.

 

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