France and Switzerland experienced CBDC

Regulators in France and Switzerland have conducted a health study for a national digital currency called Project Jura.

The test was successful, however, representatives of central banks noted the need to refine the legal framework, analytical procedures and other technical issues.

The research was carried out by the organizations BdF, BISIH, SNB. They tested the digital currency when making cross-border payments in euros and Swiss francs. An asset called Project Jura was launched on a third-party blockchain platform.

The experimental technology consisted of nodes (Corda) for verifying transactions. It fully complied with the legal, business and other regulations of the countries participating in the experiment.

 

 

During the experiment, the regulators studied the infrastructure of the network, the implementation of gross settlements in real time, the digitization of bonds and the registration of cryptocurrencies.

The CBDC study report said that despite good performance during the experiment, regulators cannot yet recommend the launch of a national cryptocurrency in Switzerland, France or the EU.

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