France plans to test the digital currency of the Central Bank in the first quarter of 2020.
This was announced by the managing bank of France Francois Willere de Pali at a conference organized by the country’s regulators.
According to the application, the project is designed exclusively for financial institutions and does not provide for the use of digital assets by individuals for everyday payments. The purpose of the initiative is to increase the efficiency of the financial system of France and ensuring its reliability.
According to Villero de Galo, the state is interested in stimulating innovations in the field of digital currencies in order to become the leading issuer of the world and take advantage of implementation. However, he added that experiments with new technologies should be approaches responsibly and methodically.
Although the French bank seeks to become the first government agency that released the digital currency is likely to be ahead of the People’s Bank of China, which can run the digital yuan in
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