France’s Central Bank: CBDCs Will Transform Global Financial System
France is among the countries currently in the process of developing digital currencies. In 2021, the Central Bank of the Fifth Republic selected Ethereum as the blockchain for their digital currency.
This token will serve as a means of payment and calculation within the country.
Denis Beau, the deputy head of the French Central Bank, believes that national digital currencies (CBDCs) will play a crucial role in the financial system.
These tokens, tied to traditional monetary units, will facilitate cross-border capital flows.
France also prioritizes international collaboration when it comes to regulating digital currencies. Denis Beau also mentioned the potential for CBDCs to be used by both individuals and corporations – for purchases as well as business transactions.
He referred to Project Mariana, in which France, Singapore, and Switzerland are involved. This project aims to conduct research and develop a platform for processing CBDC transactions, while also establishing a regulatory framework for such operations.
