The French financial institution The Banque de France announced the launch of a program to create a digital analogue of the single European currency. The main idea of the experiment is to study the possibility of electronic currencies for interbank settlements, and also to determine how innovative technologies can increase the efficiency of payment systems and financial infrastructure.
So, after studying, by July 10 of this year, ten decisions will be made to create a CBDC, which will differ in innovation from their competitors. The creators of the program note that the bank will not create money under this program, however, the project itself will be implemented in three stages: development, analysis and implementation.
It is worth noting that after the experiment its extension by the organizers of the program is not provided.
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