Tezos became the first blockchain platform chosen by the Bank of France for digital euro trials.
Tezos was selected for the central bank digital currency (CBDC) trials, according to the statement released by Forge, a technology startup founded by France’s multiple investment bank Societe Generale.
As you will remember; In July, Forge was chosen by the French central bank “Banque de France” for an application to develop a CBDC, or digital currency, for interbank payments.
A decentralized public blockchain with features such as on-chain governance, a proof-of-stock consensus algorithm, and smart contracts and official verification, Tezos has a vibrant ecosystem that includes Paris-based research and development startup Nomadic Labs, the key to CBDC trials. owner.
In the statement made by Nomadic Labs, “The Central Bank has chosen Societe Generale-Forge, Tezos, for digital currency trials. Nomadic Labs is proud to participate in this project. ” expressions were used.
— Nomadic Labs (@LabosNomades) September 15, 2020
Michel Mauny, Chairman of Nomadic Labs, said: “With its technical capacity, easy adaptation and strong community, Tezos is already involved in many projects both in France and around the world. We are particularly pleased to see once again that this technology has been chosen by Societe Generale-Forge and that our engineering quality and expertise are rewarded ”.
In December 2019, the president of Banque de France, Françaois Villeroy de Galha, stated that he wanted France to be the first country to issue digital currency.
“Since the beginning of this year, the Banque de France has launched an experimental digital currency breakthrough that could identify the possible contribution of new technologies and, in particular, interbank regulations, with other partners, to improve the functioning of financial markets,” the bank’s press release said in May.
CBDC breakthrough of European countries
Although a CBDC breakthrough in Europe seems to continue under the leadership of France, the Netherlands, Italy and even Lithuania, which uses NEM, a private / public blockchain, are also making progress in this regard. Recently, the European Central Bank also announced that it is conducting CBDC trials, but did not give details.
Tezos is one of the few public blockchain platforms that participate in the work done so far and could feed the digital euro in the future.