Testing of a digital currency started by Banque De France

Banque De France, the central bank of France, announced that it intends to start testing a digital currency in the first quarter of 2020. According to the news agency AFP, the decision was justified by the pressure exerted by Libra and other similar initiatives.

The governor of the central bank, Francois Villeroy de Galhau, said that the creation of a digital bank of the central bank (CBDC) is a crucial objective.

“We want to start experiments quickly, before the end of the first quarter of 2020.”

The statements were made Wednesday at a financial conference in Paris. Villeroy emphasized the usefulness of a CBDC to support financial transactions based on tokenized assets.

“We need to contribute to this innovation, but in a serious and methodical way … I see an advantage in the rapid advancement in issuing a digital bank of the central bank. If we become one of the first issuers of such an asset, we will be able to benefit from the benefits of a benchmark CBDC. “

Employment announcements for testing a digital currency

He further stated that this CBDC will not support anonymity for large transactions:

“Maximum thresholds for anonymous transactions will be introduced, as has already been done in France for payments in electronic money or cash.”

The central bank of France recently posted employment announcements for experienced crypto-economic analysts, with a solid knowledge of game theory and public or private blockchain, as well as a development engineer presenting the bank’s digital strategy and identifying blockchain applications for functions. key banks.

The crypto community reacted immediately to this news, committing that the statements of the governor of the central bank of France validate the entire premise of cryptocurrencies. analyst RhythmTrader mentioned that

“In a decade, governments, banks and corporations have been laughing at the idea of ​​Bitcoin and trying to imitate it.”