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26/11/19 05:37 UTC-5

The deputy governor of the central bank of France called for the use of blockchain

OtherFrench official urged the use of blockchain
French official urged the use of blockchain

Denis Beau, First Deputy Governor of the Central Bank of France, announced that the European payment system should be placed on the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
. He stated this at the AFME technology conference. 

 

The proposal of the French official

The new solution, according to Beau, is able to simplify gross and inter-currency settlements, making payments, resistance to operational incidents and recovering from them. He said that introducing a framework on a distributed ledger can affect the financial sector “by satisfying the need of the market with the help of blockchain technology, asset tokenizationToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
and preservation using Ledger”.

He urged the Eurosystem to accept innovations and try to experiment with cryptocurrency today in orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
to improve the conditions for financial operations of the central bank. He also opened the question of political changes that could contribute to the implementation of innovations for the growth of capital in European markets. He noted that, nevertheless, this process is not complete without such difficulties as “a disordered approach and heterogeneous adaptation of the settlement infrastructure”.

Interesting in the section: Financial geography: the cryptocurrency revolution of France

See also: "Unstoppable Domains has allocated $1 million for blockchain domains in applications"

#blockchain #technologies #France #Centralbank #EuropeanUnion #government

Editor: Alyona Deryabina
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