The Banque de France will begin the second phase of its experiments with a digital euro, its governor announced on Tuesday.
We are embarking on the second phase of our program of experiments with this central bank electronic currency, declared Franois Villeroy de Galhau, on the occasion of a series of conferences organized by the association for the promotion of the Parisian economic center Paris Europlace. We want to get closer to a viable prototypetest it in practice with more private players and more foreign central banks in the second half of this year and next year, he continued, with the ambition of offering this currency as a settlement asset from 2023 .
The Central Bank announced last December that it had successfully concluded the first experimental phase of the digital euro. The project dates from the end of 2019, in response to private initiatives such as that of Facebook, which has since put the subject aside.
Decentralized and tamper-proof exchanges
If a Central Bank Digital Currency appears to be akin to cryptocurrenciesit differs from it on the philosophy, taking up rather the technology which underlies it, the blockchain – or chain of blocks -, and which allows decentralized and tamper-proof exchanges.
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The main central banks in the world are working on the subject, particularly in the United Kingdom, the United States and India, and are at more or less advanced stages. The Bank of England (BoE) digital sterling project, or britcoinhowever, left the British House of Lords skeptical at the beginning of the year, not seeing any concrete advantage in it.
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