The Bank of France Launches CBDC Pilot Program

The Bank of France has officially announced the launch of a pilot program to integrate CBDC for interbank settlement. It is worth noting that the Bank of France does not impose any specific technologies and does not consider blockchain as the basic technology for the digital euro as part of an experimental program. During the testing, it is planned to conduct a simulation of interbank settlements based on CBDC, in order to identify the benefits and potential risks.

Tokens will be created only as part of the experiment. After the report on the made payment they will be destroyed, since the Bank will not engage in money creation. The Bank of France plans to accept ten applications for participation in the test. Participants can apply until May 15, the selection will take place on July 10, 2020. Applicants must be from the European Union or from a state party to the European Economic Area agreement.

BNT previously reported that a number of world jurisdictions such as the Bahamas and Sweden are already testing their central bank digital currencies.


Image courtesy of Blokt