The Banque de France Launches Experiment Program on Central Bank Digital Currency
Central bank of France is calling for applications to experiment with a central bank digital currency for interbank settlements, official website reports. The bank reports that it doesn’t impose any particular technology within its CBDC experiment program.
With this step, the Banque de France has an intention to explore this technology’s provided prospects. It will also help to identify particular cases integrating Central Bank Digital Currencies in innovative procedures for the clearing and settlement of tokenised financial assets.
As reported by the bank, the deadline for digital applications’ submission is set 15 May. The selection of applications will be conducted until July 10 of the current year.
It is mentioned that the Central Bank of France will choose a maximum of 10 CBDC-related apps by groups/individuals. The main condition for the selection is set to be the innovative nature of the project.
As the Central Bank of France reports, the results of these experiments will be a fundamental component for the bank to contribute to a more comprehensive plan conducted by the Eurosystem on the possible CBD implementations. In addition it’s mentioned, “Indeed, any decision to create a CBDC is a matter for the Eurosystem.”
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