Speaking at the Paris Blockchain Summit on Thursday, Bank of France Deputy Governor Dennis Beau discussed the progress that has been made on the central bank digital currency (CBDC) and clarified possible regulatory changes and legal frameworks.
Beau Dr. There is a “hands-on approach” with the bank’s test to launch a digital euro for the general public.
Earlier this year, the Bank of France Has published a request for suggestions For CBDC “test” applications. The project aimed to help the French central bank understand the risks and processes of CBDCs and contribute to the eurozone digital cash conversation.
In May, the bank began working closely with Societe Generale to examine digital transactions, security tokenization, and the settlement of transactions in the private blockchain.
The bank is currently analyzing that tokenization could help cross-border payments, which Beau described as “being expensive, protracted delays and raising uncertainties” in anti-money laundering checks.
In his remarks, Beau said:
“Upcoming CBDC tests – eight of which will be – will not only help to explore the possibilities of technology, but will also help ecosystem players ask questions about what the landscape of tomorrow might look like on basic issues such as ecosystems. Materials for CBDCs Turning to ways to improve the situation or make CBDCs available to financial sector players, these tests will lead us to determine whether the current regulatory framework needs to be adapted as we continue to conduct these tests within our legal framework. “
In 2020, the European Central Bank (ECB) has been Intense It works in the digital euro. Recently, ECB President Christine Lagarde addressed the competition to prioritize consideration for global funding and euro-zone retail CBDCs.
Lagarde said Faith A digital euro would allow the bloc to be at the forefront of innovation but warned of the lack of monetary consolidation in Europe led by foreign suppliers.