The first digital euro tests
Earlier, we repeatedly wrote that the financial structures of Europe are interested and have already begun to develop a digital version of the national currency. Thus, every day we are closer to the euro variation built on the Blockchain. But the first serious tests took place only today. The Bank of France announced that the initial tests of a large financial platform have passed and have been successful. This is an important event that will directly affect the success of further development. That is why in this article we will describe everything that is known about the tests performed. We will also discuss at what stage the development of the national crypt is. So let’s get started.
Who is behind the development?
The attentive reader has already realized that the main work on the creation of a European crypt is carried out by France. It is noteworthy that, despite internal and external problems, the country does not find the resources and time to develop tools of the first importance. We are talking about coronavirus infection and general quarantine. Due to which communication between states is suspended. And France’s foreign economic relations are also at risk. Nevertheless, nobody is stopping the development of the digital euro. At the moment, most of the investments are made by the National Bank of France. Which announced the testing.
The crypto, known as the CBDC ticker, has already begun work, but in very limited circles. In total, three areas of application are stated, such as: making payments against financial assets, conducting transactions against digital currency and transfers between digital banks. The distribution of coins among citizens of France and other EU member states has not yet been planned. Large banking organizations are really interested in a tool that can be controlled directly from a computer. The solution was precisely Blockchain, because with the help of such protocols you can easily control emissions and carry out other economic procedures.
What is currently known about digital euro?
CBDC is now in use for individual operations. For example, using cryptocurrency, securities are sold and bought. Well-known financial institutions, such as Societe Generale, agree to use a crypto, because they understand that this money is the future. Earlier it was reported that anyone interested in Europe can participate in the CBDC tests and now France says that the tests are successful. But, of course, the tool checks do not end there. The digital analogue of the euro must pass many tests. Tests for safety, resistance to stress and general liquidity are just beginning. Surely in the future we will hear news about new checks of the European cryptocurrency.