France plans to develop digital currency on Tezos blockchain

According to a statement from the startup, France may develop a central bank digital currency(CBDC) on the Tezos blockchain.

Startup Societe Generale-Forge has announced that it plans to use Tezos to develop a euro-pegged stablecoin for France's national bank (Banque de France).Nomadic Labs, a major Tezos development company, will also take part in the project.

The announcement states that several Tezos features played a role in the decision in favor of the protocol: blockchain governance, consensus model, and officially validated smart contracts all doTezos is "ideal for high-value financial applications."

The Tezos selection is notable for the fact that the publicblockchain is rarely used by central banks to issue digital currency. Instead, most CBDCs are built on legal enterprise blockchains or other digital ledgers that have only a passing resemblance to blockchains. Only another country, Ukraine, uses Tezos as the basis for its central bank's digital currency.

Recently, more and more countries have announced plans for digital currencies.Sweden is in the process of developing its e-krona on the Corda blockchain, while China is in the process of issuing its CBDC.According to some estimates, a total of 45 countries are developing their own digital currency.

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