- Central Bank of France Teases “Digital Euro” with Ethereum and Ripple
by Adit Gupta, https://www.thecryptoassociate.com/
* Central Bank of France teases “digital euro” with Ethereum and Ripple
* The program will test the feasibility of a Centralized Bank Digital Currency
The Central Bank of France announced the launch of an experimental program. The success of this program, along with its challenges, will help authorities decide the feasibility of a Central Bank Digital Currency (CBDC). This Central Bank Digital Currency is also known as the digital euro.
The challenge of these experiments is not to replace these two existing forms of central money, but to identify how innovative technologies could improve the efficiency and fluidity of payment systems and financial infrastructures, allowing a better financial sector to ensure the smooth financing of the economy.”
– Fact Sheet Central Bank Digital Currency
The program’s goal is to analyze the benefits and challenges posed by creating a central cryptocurrency. This will include analyzing both micro and macro economic factors. The program outlines three primary objectives.
Applicants to the program will have to outline their proposal for an experiment covering at least one of these objectives. Applicants must also meet other requirements such as being established in the European Union. These applications are due on May 15th with applicant selection on July 10th.