The Deputy Governor of the Bank of France called on the euro zone to establish a blockchain-based settlement system

According to CoinDesk, the French Central Bank hopes that the euro zone will establish a blockchain-based settlement system that will allow the euro to be transferred faster and cheaper than existing technologies. Denis Beau, deputy governor of the Bank of France, expressed support for distributed ledger technology (DLT) in a speech last Thursday. He believes that this is likely to solve many unresolved market problems, and cross-border payments may be a particularly viable DLT use case. Another solution that the Bank of France is considering is the Central Bank Digital Currency (CBDC). Beau said that the euro zone has the responsibility to consider establishing a CBDC.