[2017-02-08] France’s Central Bank to Launch a Blockchain Innovation Lab

[bitlamp]

The Banque de France has revealed that it is opening a blockchain innovation lab as it seeks to work more with blockchain startups.

In a speech [PDF] presented by Banque de France governor Villeroy de Galhau last month at the Paris FinTech Forum, and published recently, the central bank explained that more work needs to be done with the blockchain.

According to Galhau, ‘the digital revolution is creating challenges but also incredible opportunities that are just waiting to be seized, whether by FinTechs themselves, by the entire financial system or by the French and European economy as a whole.’

In a bid to boost the FinTech sector within the country, the governor said that officials are opening a new blockchain innovation lab. According to the French central bank, it has already welcomed over 100 key innovators since the creation of its FinTech Innovation Unit. It has also set up a FinTech Forum with the Autorité des Marchés Financiers (AMF) to increase the bank’s interaction with innovators.

By doing so, it plans on working alongside startups giving them the freedom to think outside the box.

Galhau understands that the digital revolution is disrupting traditional banks with its customers’ needs. So much so, that according to the French bank, in 2007 62 percent of French people visited their branch several times a month. In 2016, that number had fallen to as low as 20 percent with 13 percent belonging to the 18-34 age group.

https://www.cryptocoinsnews.com/frances-central-bank-launch-blockchain-innovation-lab/

[HongKong]

It's all hype. Is this even real news? Just launch the platform, this is all just meaningless talk trying to make it sound larger than it is.

It's like a bunch of Banks met up and decided to post the same thing over the period of 3 years. "To Launch..." I am like whatever already.

[richardsNY]

It's all hype. Is this even real news? Just launch the platform, this is all just meaningless talk trying to make it sound larger than it is.

It's like a bunch of Banks met up and decided to post the same thing over the period of 3 years. "To Launch..." I am like whatever already.

I don't see much of a hype here, but even if it was, hypes attract people -- in this case top notch developers. It's no secret that banks, governments and other corporations are trying to develop an ultimate blockchain that they can put to work within their organization. By attracting top developers they probably gain much needed knowledge about how further to improve and centralize the blockchain for inside usage. Everything has a reason....

[HongKong]

It's all hype. Is this even real news? Just launch the platform, this is all just meaningless talk trying to make it sound larger than it is.

It's like a bunch of Banks met up and decided to post the same thing over the period of 3 years. "To Launch..." I am like whatever already.

I don't see much of a hype here, but even if it was, hypes attract people -- in this case top notch developers. It's no secret that banks, governments and other corporations are trying to develop an ultimate blockchain that they can put to work within their organization. By attracting top developers they probably gain much needed knowledge about how further to improve and centralize the blockchain for inside usage. Everything has a reason....

Last i've checked this was the section where the people post actual news...this isn't the speculation section.

I don't care for plans or what they are working on. No offense to the OP.

I'm working on getting a zillion dollars. Is that news worthy to you? We need the hype right?

Wrong.

[Papa Bear]

financial companies need to take a more comprehensive approach if they are to succeed in the digital transition – placing innovation at the heart of their strategic management, as well as rethinking their business models.