French central bank governor: digital currency should be issued by the central bank rather than private companies, the euro area central bank is studying digital currency

French central bank governor Francois Villeroy de Galhau said digital currencies cannot be private. He said that digital currency may be useful due to reduced cash transactions in some countries, but it is the central bank that is responsible for issuing, not private companies. He emphasized that currency cannot be private, and currency is the public interest of sovereignty. At the same time, he said that these proposals on digital currencies are not a response to Facebook's plan, but a response to the rapid development of technology and some banks' demand for digital currencies. He added that citizens may also start wanting alternatives to cash. In addition, he said that the central bank is planning to experiment with digital currencies, and the euro zone central bank will study the issue.