{"id":4874,"date":"2023-10-06T09:52:15","date_gmt":"2023-10-06T09:52:15","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=4874"},"modified":"2023-10-06T09:52:15","modified_gmt":"2023-10-06T09:52:15","slug":"french-central-bank-praises-cbdc","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/french-central-bank-praises-cbdc\/","title":{"rendered":"French Central Bank Praises CBDC!"},"content":{"rendered":"<p>On October 3, <strong>Denis Beau<\/strong>, the First Deputy Governor of the <strong> Banque de France <\/strong> ( French Central Bank ), emphasized that the Central Bank Digital Currency (CBDC) is a catalyst for improving cross-border payments and adopting a global perspective. He defined it as the foundation of a new international money system. He emphasized the need to address cross-border issues in the development of CBDCs afterward rather than in thought.<\/p>\n<blockquote><p>You might like: <a href=\"https:\/\/coinengineer.net\/blog\/stars-arena-eliminates-fud-by-closing-security-vulnerability\/\"><strong>Stars Arena Eliminates FUD by Closing Security Vulnerability!<\/strong><\/a><\/p><\/blockquote>\n<p><strong>Denis Beau<\/strong>, the First Deputy Governor of the Banque de France ( French Central Bank ), identified two valid paths for CBDC development. Firstly, creation of common standards between wholesale CBDCs and existing systems and ensuring their compatibility. Secondly involves the creation of regional or global CBDC platforms supported by the <strong>International Monetary Fund<\/strong> (IMF) and the <strong>International Bank for Bills<\/strong> (BIS). Standardization of wholesale CBDCs allows them to be directly exchanged on these platforms and allows payment and delivery transactions.<\/p>\n<p>Beau cited Project Mariana as an example and stated that the project, which explored the capabilities of the automatic market maker (AMM), successfully concluded. Additionally, Beau mentioned that they, in collaboration with the <strong>Monetary Authority of Singapore<\/strong> and the <strong>Swiss National Bank<\/strong>, successfully completed this project in late September.<\/p>\n<p>In addition to CBDCs, Beau discussed the <strong>tokenization<\/strong> of finance. He emphasized the importance of more public sector support for the private sector to realize the full potential of blockchain and to limit the risks arising in this process. According to Beau, tokenized central bank money and tokenized assets are complementary allies, not competitors, in the evolving financial landscape.<\/p>\n<hr \/>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019 t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On October 3, Denis Beau, the First Deputy Governor of the Banque de France ( French Central Bank ), emphasized that the Central Bank Digital Currency (CBDC) is a catalyst for improving cross-border payments and adopting a global perspective. He defined it as the foundation of a new international money system. He emphasized the need<\/p>\n","protected":false},"author":2,"featured_media":4873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,2],"tags":[1554,1738,1834,1739,1833,1557,1835,1837,1836],"class_list":["post-4874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-news","category-news","tag-cdbc","tag-central-bank-digital-currency","tag-denis-beau","tag-digital-currency","tag-french-central-bank","tag-imf","tag-international-monetary-fund","tag-monetary-authority-of-singapore","tag-swiss-national-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>French Central Bank Praises CBDC! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"French Central Bank highlighted that CBDC serves as a catalyst for enhancing cross-border payments with a global perspective.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/french-central-bank-praises-cbdc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"French Central Bank Praises CBDC! 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