Central Bank of France offered to use blockchain to improve the financial system

The First Deputy Governing Bank of France Denis Bo called on to implement payment and settlement systems on the basis of a distributed registry technologies.

Speaking at a conference dedicated to technology and innovation in the capital markets, he stated that the use of DLT would have a positive impact on the European financial system.

In particular, Denis Bo said that the toxization of assets in combination with the introduction of solutions based on the blockchain and the wide use of the technologies of a distributed registry, for storing and transferring these assets, will help better meet the needs of the market. Adding that DLT will also simplify gross and currency calculations, recovery after operating incidents, as well as increase the stability of the system as a whole.

As a result, the first deputy suggested that the ECB start experimenting with new technologies to improve the working conditions of central banks, as well as to develop cryptoaculations that, according to him, can be used instead of traditional money for mutual settlements between banks of different levels.

Although he noted that in the process of introducing innovations, problems may arise related to the risk of disordery approaches and differences in the adaptation of market infrastructure.

In addition to France, German

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