France bank successfully tests CBDC on DLT: promising results for cross -border transactions

France's bank has successfully carried out experiments with wholesale CBDC (WCBDC) and used the distributed Ledger technology (DLT). The tests started in March 2020 and included a total of 12 attempts. The main goal of the experiments was to demonstrate the feasibility of the edition of WCBDC on DLT. Three models were examined: interoperability, distribution and integration. Particular attention was paid to financial tokenization and cross -border transactions. The experiments showed positive results and illustrated the advantages of WCBDC as a supplement to the retail CBDC. The introduction of a globally integrative and interoperable CBDC wholesaler frame can be guaranteed stability and convertibility of central bank money. International cooperation and public-private partnerships ...

22. Juli 2023

Krypto News Österreich

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The bank of France successfully carried out experiments with wholesale CBDC (WCBDC) and used the distributed Ledger technology (DLT). The tests started in March 2020 and included a total of 12 attempts. The main goal of the experiments was to demonstrate the feasibility of the edition of WCBDC on DLT. Three models were examined: interoperability, distribution and integration. Particular attention was paid to financial tokenization and cross -border transactions.

The experiments showed positive results and illustrated the advantages of WCBDC as a supplement to the retail CBDC. The introduction of a globally integrative and interoperable CBDC wholesaler frame can be guaranteed stability and convertibility of central bank money. International cooperation and public-private partnerships are of great importance for this. The progress in technology offers central banks various ways to keep control of their wholesale CBDC and at the same time to remain technologically neutral and to introduce common standards.

The direct handling of trade and post-trade activities can be improved by the use of DLT, which in turn contributes to general financial stability. Further experiments are required in both domestic and abroad to develop an operational framework for WCBDCs. France's bank plans to support the Eurosystem in this process and to check improvements in cross -border payment transactions on this basis.

The report emphasizes the importance of energy-efficient solutions and ongoing experiments for the further development of the operational framework for wholesale CBDCs. The results of the WCBDC experiments indicate that the distributed LEDGER technology offers promising prospects for the improvement of cross-border payments and that a more efficient and integrative CBDC wholesale ecosystem can be set up. If research continues, profound changes in the global financial landscape could arise.