France chosen Tezos (XTZ) to power the CBDC Stablecoin

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#Club1BCH

4 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Defi, Finance, Blockchain, Cryptocurrency, Money, ...

France effort to develop an stable-coin pegged on Euro is moving forward, as Societe Generale announced the partnership with Nomadic Labs. The updated took place on the 15th of September, as the major Tezos development firm shared the news via Twitter.

Tezos was selected for technological evolution for the great set of features that can offer, such as on-chain governance, PoS consensus model, and hi-tech smart contracts. As the newest addition to the project, after Forge was selected in July by Societe Generale, Nomadic Labs will add the expertise of top class engineers to this innovative plan. The new Euro-pegged stable coin aims to improve the financial markets and inter-bank contracts and regulations.

France ambition is to be the first country to develop a central bank digital currency, and to add this achievement along the Tour Eiffel, Louvre and baguettes. If they will succeed and launch the stable-coin before the rest of the world, it will be a big party on the Champs Elysees Boulevard, and champagne bottles will pop open. If you were watching Dexter Laboratory as a child, "omlette du fromage" will stir some memories. Please say it again Dexter!

Their effort is closely followed by other countries such as Italy, the Netherlands and Lithuania, who they also consider developing stable-coins. Sweden plans to develop the E-Krona on Corda, while China wants to create a digital Yuen backed by the Government. Ukraine mindset is similar to France's plans, backing Tezos for their CBDC because of the public block-chain and unbreakable smart contracts.