The Bank of France says it has successfully completed an initial test of a central bank’s digital currency based on blockchain technology.
he bank says this is the first in a series of tests to determine whether the digital euro has the potential to strengthen global financial markets. In the coming weeks, the central bank will study how the digital euro handles sending from one bank to another.
The digital currency has been evolving since the end of March. Its original design was for use in the private sector, not for consumers.
The Bank of France hires an economist with experience in cryptocurrencies and game theory to help guide the start-up process.
The central bank is following in China’s footsteps, which began a large-scale process to issue a digital form of the yuan back in April.