Tezos (XTZ) has been selected to experiment with the French central bank digital currency (CBDC). Societe Generale, which is a mega bank following BNP Paribas in France and has branches all over the world, will conduct experiments.
In July this year, the French central bank chose Societe Generale as one of its operators in its testing of the digital euro in banking. The Societe Generale has now selected Tezos, and it has been revealed that Nomadic Labs, a Paris-based R & D center belonging to the Tezos ecosystem, will also participate in the project.
The experiment will also explore the feasibility of using the CBDC for digital payments and deliveries of securities.
Michel Mauny, director of Nomadic Labs, said in a press release:
Tezos has been strengthened by its technical capabilities, adaptability and strong community and has already been selected for various projects in France and abroad.
CBDC Initiatives in Europe
In France, as part of a CBDC experiment, a € 40 million covered bond was issued on the blockchain as a security token in May this year.
Societe Generale was also involved in this experiment, revealing that bonds were settled in the digital euro. The token also received a AAA rating from rating agency Moody's.
The global impact of Facebook's cryptocurrency Libra project announced in June last year has made governments feel a sense of crisis, and at the same time, the flaws in the current payment system have been revealed.
Regarding CBDC, the Netherlands and others are also eager to develop it. In April of this year, the Netherlands released a 45-page report that even mentioned CBDC design options, compared to other digital payment methods such as Bitcoin and Facebook's Libra and cash .
In addition, Sweden started testing its own CBDC, e-krona, in February of this year , and released a detailed report in June of this year, how to supply and manage CBDC through partnership with private services. Etc. are being considered.