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Adoption

French government officials advocate for a €500m investment in blockchain technology

Members of the French Parliament are pushing for the investment of 500 million euros to develop the country's blockchain ecosystem. "2018 was year zero of the popularization of blockchain in France. The year 2019 must be that of the emergence of this ecosystem," says Jean-Michel Mis, co-rapporteur of the report for recommendation. "The idea would be to 'arrow' 500 million euros over three years," he added. The 500 million euros investment will come from France's National Research Agency and Bpifrance, a French investment bank. "With the blockchain, we would like France to take the lead this time," says Laure de La Raudière, the other co-rapporteur of the report.

Furthermore, the report also advocates for the creation of a "digital currency" issued by France's central bank. "It would have a symbolic and practical impact since the blockchain suffers from a slightly degraded image because of the volatility of bitcoin," explains Laure de La Raudière. Parliament Members will vote on the recommendation in early 2019.