There have been ample rumors regarding various governments and central banks exploring digital fiat currencies. France’s central bank is now going ahead with its pilot of a digital Euro.
Central bank digital currencies will always be an interesting topic of discussion.
France Isn’t Giving up on Central Bank Digital Currencies
They are designed to digitize existing fiat currencies, such as the US Dollar, Euro, Yuan, and so forth.
Many people expected this process to be accelerated during the coronavirus crisis.
Governments and store owners dissuade people from using cash over fears of spreading the virus.
As such, exploring central bank digital currencies would make a lot of sense.
Until this week, it seemed as if no one would further explore this option in the near future.
That was until France’s central bank decided to push its digital euro agenda once again.
An experimental program is underway to explore the potential aspects of central bank digital currencies.
There also needs to be some data collecting regarding potential use cases for the digital Euro.
With three objectives to be completed, it seems likely to assume that this project will last for a few months, if not longer.
A digital Euro “currency” is not coming to the masses just yet, but it remains a very viable project.