The French central bank launched the blockchain Innovation Laboratory

The French central bank launched the blockchain Innovation Laboratory


According to the Bank of France (BanquedeFrance) revealed that they are building a block chain innovation laboratory, in order to cooperate with the blockchain startups more.

Last month, the French central bank governor VilleroydeGalhau in Paris Financial Forum (ParisFinTechForum) delivered a speech, he said that for the block chain technology, and a lot of work to do the central bank.

“Although the digital revolution has brought a lot of challenges, but also create an incredible opportunity, whether through financial technology itself, or the French or European Economic system”.

In order to promote the development of the domestic financial technology sector, government officials are building a new block chain innovation laboratory. According to the French central bank said that since the creation of the financial innovation of science and Technology Department, has attracted more than 100 people important innovation. And also with the Financial Markets Authority (AMF) co founded a financial forum, in order to increase the interaction between banks and innovative personnel.

The central bank hopes to work together with startups by this move, and give them the freedom to create space.

Galhau learned that the digital revolution is the subversion of the traditional banking and customer demand. According to the Bank of France said that in 2007, there will be 62% of French people will visit their monthly branch. In 2016, the number was reduced to 20%, of which 13% users in 18-34 years.

He said:

If you want to succeed in the digital transformation, in addition to the customer relationship, financial companies need more comprehensive measures – the innovation on the strategic management of the core status, at the same time to rethink their business models.

Although Galhau did not provide more information about when the block chain innovation labs, but he finally said:

“Rest assured, we are toward this goal”.

French banks blockchain experiment

In December, the central bank issued its October the blockchain experimental details.

The central bank announced: to understand the SEPA identifier to credit management center of the account they have been tested and distributed ledger, SEPA credit is paid in a single euro zone identifier (SEPA) in a simplified version of cross-border transactions of the euro.

It is also with the Paris financial technology start-up companies LaboBlockchain and CaissedesD p? TsetConsignations of cooperation, CaissedesD p? TsetConsignations is a French parliamentary management of public financial institutions, is regarded as the French government investment department.

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