[2016-12-21] Central Bank of France Reports On Its Experiment With Blockchain

[Vladdirescu87]

The “Banque de France” reported on the bank’s experiment with blockchain technology for the management of SEPA Credit Identifiers.

The Banque de France, start-up Labo Blockchain, Caisse des Dépôts et Consignations and several other French banking groups, launched an experiment on the potential use of Distributed ledger technology in July 2016. By October, the working group had managed to develop a prototype tool for creating and managing SEPA Credit Identifiers (ICS).

You can read full article here: https://coinidol.com/central-bank-of-france-experiment-with-blockchain/

[eckmar]

In the article developer said that his goal is to experiment with decentralized information system. I dont really understand why would bank want something like this. I mean goal of bank is to have things (your money) under control.

[richardsNY]

In the article developer said that his goal is to experiment with decentralized information system. I dont really understand why would bank want something like this. I mean goal of bank is to have things (your money) under control.

It's not that they will accept whatever decentralized incentive to incorporate it into their system with the consequences of handing over the power to the people. They are investigating the possibilities of having all benefits of the blockchain, but then without losing any control. That's why they invest many millions into having such a system developed.

[Papa Bear]

This experience allows all the participating banks to share  analyses on the impacts and opportunities of this technology.