France Central Bank Chief: Digital Currencies Can`t Be Private

The main banker of France, Fransua Villerua de Galo doesn`t deny the usefulness of digital currencies, but in his opinion, private companies should not issue them – this is Central banks` prerogative.

He believes that cryptocurrencies are important at this stage of economic development, as people began to massively refuse cash.

“In some northern European countries, notably Sweden and the Netherlands, the use of bank notes is falling extremely quickly and they are wondering whether we need to give citizens the right to digital money that is no longer a physical bank note but which has the same quality, notably the security of a central bank,” Fransua Villerua de Galo told.

Then he added: “currency cannot be private, money is a public good of sovereignty”

Earlier we wrote that France officially approved the ICO for the first time in history. To keep up with the latest news in the world of cryptocurrencies and the blockchain industry, check out updates on TheCoinShark.

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