French central bank establishes blockchain lab
(8 February 2017 – France) France’s central bank, Banque de France has revealed that it is opening a blockchain innovation lab as it seeks to work more with blockchain startups.
In a speech from the bank’s governor Villeroy de Galhau at the Paris FinTech Forum, and published recently, the central bank explained that further work needs to be done with the technology.
Galhau said: ‘the digital revolution is creating challenges but also incredible opportunities that are just waiting to be seized, whether by FinTechs themselves, by the entire financial system or by the French and European economy as a whole.’
In a bid to boost the fintech sector within the country, the governor said that officials are opening a new blockchain innovation lab. According to the French central bank, it has already welcomed over 100 key innovators since the creation of its FinTech Innovation Unit. It has also set up a FinTech Forum with the Autorité des Marchés Financiers (AMF) to increase the bank’s interaction with innovators
By doing so, it plans on working alongside startups giving them the freedom to think outside the box.
Galhau did not provide further details on the launch of the lab, however said: “Rest assured we are fully mobilised towards this goal.”
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