The Bank of France Looking to Test Digital Currencies in 2020

December 5, 2019 By: Lorenzo Stroe

Yesterday, a conference was hosted by the French Prudential Supervision and Resolution Authority. A discussion about cryptocurrencies eventually took place after François Villeroy de Galhau said the following:

We must make our contribution to this innovation, but in a serious and methodical manner. I see an interest in rapidly advancing the issuance of at least one wholesale central bank digital currency in order to be the leading issuer internationally and derive the profits earmarked for a reference central bank digital currency.

The French government already announced back in September the possibility for the creation of a public digital currency. The French government is, however, still against Facebook’s Libra.

According to François Villeroy, they want to start running experiments and launch a call for projects before the end of the first quarter of 2020.

Why is France so Interested?

Although this is good news for the whole cryptocurrency industry, it does seem that the French government as well as other European governments are worried about losing control as Facebook’s Libra and others are close to becoming real.

Either way, this will certainly help the blockchain sector a lot and will drive mass adoption in the very near future. The central bank of France has actually posted a few job listings calling for experienced crypto-economics analysts.

The trainee will be tasked with learning one or more of these technologies (Ethereum, Quorum, Hyperledger, Corda, etc.) in order to understand the foundations of decentralized treatments and apply them to create prototypes

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