The Central Bank of France has launched its token. Product test report
In the fall, information appeared on the network that France is planning to launch its own cryptocurrency at the state level. The project was supposed to be launched on the Tezos blockchain. As a result, the launch of the project on Ether was announced. The testing was completed quite recently, as the Central Bank of France announced in the press. The regulator was tested in several directions, in particular, during the work, calculations were made in tokens.
Recall that France has issued its own cryptocurrency issued by a bank, that is, contrary to the main principle of cryptocurrencies - decentralization, the national digital currency will be centralized and controlled by a banking institution - the European Investment Bank. The token is abbreviated as CBDC.
During testing, calculations were made, a digital euro was issued and smart contracts were used. The first investors have already appeared who received the Central Bank tokens and securities in digital form.
For the next few months, more testing stages are planned, which will allow us to hone the tool and work out the scheme of its functioning to automatism. It is also planned to test the use of the token for making payments and settlements between different banks, and then - the application for international payments and transfers. When the token will be released to the "world", that is, when the citizens of France will start using it, has not yet been reported, since it depends on the success of all stages of testing.
Recall that at the moment, several countries in the world have already issued their national tokens pegged to fiat currency - in particular, to its rate and market. The first was the Peoples Republic of China, which has already managed to conduct global tests of the digital yuan and is actively working to introduce it into circulation among the population on a par with fiat. Some cities and regions already use the cryptocurrency yuan to pay for goods and services, as well as make transfers and various payments.
In Russia, the development of the digital ruble is also nearing completion, testing of which is planned for 2022. In the United States, the analogue of the national fiat currency is the Teaser, which is traded one-to-one with the dollar and is the link between the digital and traditional financial systems.