French central bank Banque de France has disclosed the results of its experimental program to use central bank digital currency (CBDC) to exchange and settle tokenised government bonds, potentially paving the way for the technology’s rollout in the country’s debt market. Per the bank, the experiment confirmed that the blockchain technology allows managing post-trade market operations in CBDC, “subject to the completion of additional testing with real-world volumes,” which would also “provide the data required to make a quantification of the potential efficiency gains and cost savings that a blockchain-based infrastructure could offer for the securities business.”However, the study also cautions that, before considering the use of a blockchain platform in production, there is still a need to execute real-life volume and performance tests. The initiative was spearheaded by Belgium’s financial services firm Euroclear with the use of a system designed by the US tech giant IBM. Close to 500 institutions took part in the trial, including primary dealers and custodians active in the French market, Euroclear said in a report summarizing the project’s results. These include BNP Paribas and BNP Paribas Securities Services, Crédit Agricole CIB, the UK’s HSBC, and Société Générale. The experiment’s goals were to verify and assess whether a large range of post-trade functionalities could be run on blockchain, identify the added value of blockchain tech and CBDC for the capital markets from a user point of view, and also to assess the potential next steps. The “proof of concept” experiment was carried out in a test environment for which both CBDC tokens and Obligations assimilables du Trésor (OAT) securities – government bonds issued by the French Treasury – were natively issued on a blockchain ledger, the report said. The involved banks acted as OAT market players and custodians in the experiment, helping simulate the securities trades. In the course of the trial, French business daily Les Echos commented that Banque de France is “pursuing its experiments in a rhythm propped by the forerunner of the future digital euro,” making a reference to efforts by the European Central Bank (ECB). At the same time, the French initiative comes about six months after the European Investment Bank (EIB) launched its first bond sale using the blockchain technology. Last April, the EU institution issued EUR 100m (USD 116.5m) on the Ethereum (ETH) blockchain in cooperation with Spain’s Banco Santander, Société Générale, and the US investment bank Goldman Sachs.

All data is taken from the source: http://cryptonews.com
Article Link: https://cryptonews.com/news/french-central-banks-blockchain-bond-trial-bringsfirst-results.htm

#blockchain #cryptodefinition #bitcoindoublerclub #bitcoinsvprice #btctousdcalculator #bitcoinminingcalculator #

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��Essential Videos��

Cryptocurrency For Beginners �� https://youtu.be/VYWc9dFqROI
Terra’s UST Decentralized Stablecoin �� https://youtu.be/NiYUEBNvPPk
CBDCs Explained �� https://youtu.be/7Lu0uhrueWI
CPI Inflation Manipulation �� https://youtu.be/iJTUVPaNJ04
IMF Financial Stability Report �� https://youtu.be/5zo7oXDeCxI
What Happens When Last BTC Is Mined �� https://youtu.be/rnKdpf-P1TI
Blockchain Analytics Companies �� https://youtu.be/KR5_6uVBRDU
Monero Privacy Coin Analysis �� https://youtu.be/7-aTYyEVlNk
Federal Reserve Interest Rate Plans �� https://youtu.be/DPE5D7X3N7U
BIS CBDC Report �� https://youtu.be/fEifsVxio6Q
WEF CBDC And Stablecoin Report �� https://youtu.be/JZRDwS6ACHc
Assets Backing Stablecoins �� https://youtu.be/TxcTDNHSS-U
Blackrock Owns Everything �� https://youtu.be/qs_mWvf6yRI

~~~~~

⛓️ �� Useful Links �� ⛓️

► CBDC Tracker: https://cbdctracker.org/
► Bitcoin Whitepaper: https://bitcoin.org/bitcoin.pdf
► Distributed Ledger Technology And Blockchain: https://medium.com/brandlitic/difference-between-distributed-ledger-and-blockchain-vs-dlt-7969f3837ded
► WTF Happened In 1971: https://wtfhappenedin1971.com/
► Shadow Stats Inflation Charts: http://www.shadowstats.com/alternate_data/inflation-charts
► Assets Priced In Gold: http://pricedingold.com/
► Bitcoin Stock To Flow: https://stats.buybitcoinworldwide.com/stock-to-flow/

~~~~~

– TIMESTAMPS –
0:00 Intro
1:31 Origins Of CDBCs and Crypto
5:51 How CBDCs & Crypto Work
10:00 Economics Of Financial System
12:58 Economics Of CBDCs & Crypto
17:24 Custody Of CBDCs & Crypto
21:13 CBDC vs Crypto Economies
25:46 Conclusion

~~~~~

�� Disclaimer ��

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Crypto #CBDC #Blockchain #USD #Cryptocurrency

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��Essential Videos��

CBDCs vs. Cryptocurrencies �� https://youtu.be/_ErRWQWPs8Q
Kakao Klaytn Cryptocurrency �� https://youtu.be/X3vbC60Mkjw
Latest Ethereum Updates �� https://youtu.be/lANUSdHg2oc
Fiat Ponzi Scheme �� https://youtu.be/L_f6R0DHNH0
Algorand Explained �� https://youtu.be/7NdjivxrDoc
China Crypto Crackdown �� https://youtu.be/iaY6MmU0C3A

~~~~~

– TIMESTAMPS –
0:00 Intro
1:39 What Are CBDCs?
4:55 Turkey
5:29 Ukraine
6:28 South Korea
7:55 Israel
9:12 Europe (Euro Zone)
10:35 United States
12:33 China
14:18 Conclusion

~~~~~

⛓️ �� Useful Links �� ⛓️

Sherblock Holmes Research: https://drive.google.com/drive/u/1/folders/1Z6BgoNqWMGZ1lnT94zF4kIDCzg1gKoho
► PriceWaterhouseCoopers CBDC Report: https://www.pwc.com/gx/en/industries/financial-services/assets/pwc-cbdc-global-index-1st-edition-april-2021.pdf
► Bison Trails CBDC Report: https://bisontrails.co/cbdc-intro/
► Turkey Tests Digital Lira: https://cointelegraph.com/news/amid-inflation-woes-turkey-announces-cbdc-tests-planned-for-2021
► Ukraine And Stellar: https://cointelegraph.com/news/ukraine-taps-stellar-to-develop-digital-asset-infrastructure-including-cbdc-framework
► Consensys And Klaytn For South Korea: https://cointelegraph.com/news/consensys-to-develop-private-version-of-kakao-s-klaytn-blockchain
► Israel And Ethereum: https://cointelegraph.com/news/bank-of-israel-steps-up-cbdc-efforts-with-reported-tests-on-ethereum
► European Union And Ethereum: https://cointelegraph.com/news/100m-euro-digital-bond-was-a-cbdc-test-says-banque-de-france
► FED To Test Digital Currency: https://www.cnbc.com/2021/05/20/the-fed-this-summer-will-take-another-step-ahead-in-developing-a-digital-currency.html
► How China’s Digital Yuan Works: https://www.reuters.com/article/us-china-currency-digital-explainer-idUSKBN27411T

~~~~~

��‍��What Are CBDCs?��‍��

CBDC is short for central bank digital currency, or as I like to call it, the ultimate shitcoin. This is because CBDCs are just digital fiat currencies that are issued and controlled by a country’s central bank

��Turkey��

Turkey has been planning a digital Lira since 2019, and they should have begun testing their CBDC in the first half of this year. However, no news has come out about that yet. It is also not known which blockchain Turkey will choose for its CBDC.

✨Ukraine & Stellar✨

The Ukranian government announced earlier this year that it had partnered with the Stellar Foundation to develop their CBDC, though it appears they will not be deploying it on Stellar’s public blockchain

��South Korea & Klaytn��

The Bank of Korea recently announced that they’re officially looking for a tech company to help them test their CBDC this summer

The prime candidate seems to be Klaytn, an enterprise-oriented clone of Ethereum that recently teamed up with Consensys to create a permissioned version of their blockchain for South Korea’s CBDC trials

��Israel & Ethereum��

In May this year the Bank of Israel suddenly revealed its definitive plans to issue a CBDC. It only took a month for them to begin testing their tech, and it seems like they’ve chosen Ethereum as their blockchain of choice

�� Europe & Ethereum��

The European Union is also looking to develop a digital Euro. This is a recent development given that the European Central Bank only jumped on the CBDC bandwagon late last fall

It seems that Europe’s Central Bank has been taking notes of CBDC developments elsewhere, because they’ve already begun testing their CBDC technology on Ethereum, at least according to French officials

��United States & Algorand��

Early 2020 is when the FED really started to put CBDCs on their list of priorities. Multiple digital dollar pilots are already underway by private companies

The real question is which cryptocurrency blockchain the United States could tap for its CBDC, and the evidence points to Algorand

��China��

China’s own motivation for creating a digital yuan stems from the dominance of the tech giants within its own country which have effectively taken over the payments industry

According to Reuters, China’s digital yuan does not use a blockchain, which begs the question of whether it counts as a central bank digital currency

~~~~~

�� Disclaimer ��

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Crypto #CBDC #Cardano #Ethereum #Stellar #ECB #FED

There is proof that ripple was at the center of the CBDC trial between France and Switzerland this year 2021