The Central Bank of France has announced the successful completion of blockchain testing of the digital euro.
The test was conducted in conjunction with the French financial conglomerate Societe Generale, which as part of the project issued covered bonds in the amount of €40 million in the form of security tokens, and then paid for them with digital euros.Absolutely all stages of the experiment were implemented on blockchain infrastructure.
After the completion of the tests, the Central Bank said that as part of the pilot project, it plans toConduct additional tests with other participantsfinancial market in the next few weeks.
The results of these experiments should be important.the contribution of the Bank of France to a program to study the potential of digital euro and global reflection on the prospects for using the digital currency of the central bank. However, the Central Bank does not plan to withdraw cash from circulation, since the project is designed to use digital money for interbank settlements.
Recall that in January 2020, ECB representative Jens Weidmann called on European banks to develop a cheaper and faster payment solution for consumers, which cancompete with private projects.
</p>Read this:
Bank of France will test its digital currency in 2020
Central Bank of France launches CBDC testing
Bank of France starts experimenting with digital currency for interbank settlements
Central Bank of Australia successfully completed a test of digital currency
French Central Bank announces successful testing of digital euro
Central Bank of France completed the first phase of testing digital euro