The launch of digital currency by a government has become all too common to hear across the world. What was once thought outrageous is now a shared goal across the world. One of the countries that have been looking into this is France. Although it has not been at the forefront in adoption like China or the U.S, France has kept its eye on the technology. This is so much so that the Central Bank has announced it will begin testing its digital currency in 2020.
According to the governor of the central bank, <a href="https://atozmarkets.com/news/france-test-central-bank-digital-currency-2020/" target="_blank" rel="noopener">François Villeroy de Galhau</a>, this will take place in the first quarter of 2020.
Other countries that are currently developing digital currencies include; China, <a href="https://www.cryptoknowmics.com/news/turkey-next-on-list-of-countries-creating-state-backed-cryptocurrencies" target="_blank" rel="noopener">Turkey</a>, and China. Those which have already issued one include Senegal and Venezuela. According to research in 2019, more than <a href="https://hackernoon.com/cbcd-19-countries-creating-or-researching-the-issuance-of-a-digital-decentralized-currency-b57a609e695b" target="_blank" rel="noopener">19 countries are creating or researching the new currencies</a>. Most of the ones already being created, their launch dates are expected in 2020. For this and other reasons, many experts predict that 2020 will be a great year for cryptocurrencies. Decentralized currencies will finally receive the coverage they have cried for. And as a result, adoption will skyrocket.
The announcement from France backs a previous one we reported on. A few weeks ago,<a href="https://www.cryptoknowmics.com/news/france-announces-it-will-begin-teaching-cryptocurrencies-in-highschool" target="_blank" rel="noopener"> the ministry of education announced that high school students will begin learning cryptocurrencies</a>. At the time it was not clear why the government was doing so. Now it would seem it is preparing the future generation for the new technology.
Despite the enthusiasm around the test and possible launch, the governor has been warning that the new technology must be approached “seriously and methodically.”

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<h3>Entire Europe Block Warming Up To Digital Currency</h3>
Notably, although France is leading the way in Europe, the entire block is warming up to digital currencies. This is spearheaded by the new head of the ECB, Christine Lagarde. She has continued to push for central banks to adopt digital currencies. The former IMF boss has always been friendly to digital currencies and continues to push the message at her new office.
In a hearing at the Europian Union parliament she stated:
<blockquote>"A central bank digital currency would allow citizens to use central bank money directly in their daily transactions. However, depending on its design, a central bank digital currency could pose risks. For instance, they could alter the way in which monetary policy is conducted and transmitted to the real economy"</blockquote>
Going into 2020, Europe is looking to be at the forefront in what has turned into a race to launch digital currencies.

France Announces Tests Of Central Bank Digital Currency Will Begin In 2020

The Central Bank of France has announced that it will bgin testing its digital currency in 2020. This comes in the wake of new push from ECB for adoption.

John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

France Announces Tests Of Central Bank Digital Currency Will Begin In 2020

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