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First Successful Digital Euro Test at the Bank of France

The Bank of France has reported the first digital euro test that has succeeded.

Banque de France announced on May 20 that France is the first country that has successfully tested a digital euro, operational on a blockchain, after a call for new innovation to such an improvement at the end of March. 


Under the same initiative, similar tests will continue in the coming weeks.



On May 14, the national bank tried an offer of protection for computerized money (CBDC), flagging the beginning of increasingly heartfelt testing.


The present test run program is focusing on rebate rather than retail uses for a computerized euro. Retail Central Bank Digital Currencies would work open to customary purchasers like Apple Pay or Bitcoin.


What we know is that Banque de France uniquely concentrates on digital Euro development. 


When Britain leaves the EU, then France will turn into the second biggest economy of the European district after Germany.


François Villeroy de Galha who is the French central bank governor said in 2019 that he wanted France to be the first country to issue a digital currency. 


"We intend to start experimenting quickly and launch a call for projects (for private sector players) by the end of the first quarter of 2020," explained François Villeroy de Galhau, in December 2019

Initially, the digital euro will be used by banks, not by everyday citizens.





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