France is to Create Own Cryptocurrency
Officials of the Central Bank of France announced the start of testing their own cryptocurrency. The new digital currency is called CBDC and the bank’s specialists will begin to use it in their work until the end of the first quarter of next year. “We want to start running experiments rapidly and will launch a call for projects before the end of the first quarter of 2020," Bank of France governor Francois Villeroy de Galhau said. Also, he expressed concern about the Facebook project, the stablecoin Libra. And to keep up with the digital field, the leading bankers of France decided to start work on their own. The chairman of the Central Bank said that the testing of new technologies must be treated with a high degree of responsibility. Recall, earlier the French Minister of Finance Bruno Le Maire expressed the need to create cryptocurrencies for the European Union, in order to reduce the expense of international transactions.