France Makes a Major Move towards Blockchain Adoption

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France Makes a Major Move towards Blockchain  Adoption with the Latest Investment of Half Billion Euros

Les Echos, one of the well-known financial papers in France reported on December 12th that the two deputies of the French government, Jean-Michelle Mis and Laure de la Raudière, released 20 different outlines for proposals that should provide the needed support for further development of blockchain technology and blockchain-based entities in France.

The two deputies stated that France should acquire a winning strategy on the matter of blockchain technology, adding that the main objective of the 20 different outlines is to promote the adoption and development of blockchain, bringing the innovative technology to mainstream waters.

France spotted a massive potential in the foundational technology that blockchain represents, as well as its influence on different sectors and various industries, which made the government officials take a pro-crypto initiative for introducing blockchain in the country.

La Raudière noted that France was a little too late for the first technological revolution that the Internet and the development of the World Wide Web represented back in the nineties, adding that France shouldn’t miss on another opportunity.

The government deputy further stated that the country should capitalize on the blockchain technology and blockchain-based entities before the US or China do.

The US and China cryptocurrency markets are already on the top of the list of the largest, and blockchain innovations started to develop in these areas together with the cryptocurrency boom.

However, France announced a massive investment for the mainstream adoption of cryptocurrencies, reserving half billion euros for the project.

France Aiming to Become One of the Top Leading Countries in the Blockchain Sector

France appears to be serious about encouraging the adoption and development of blockchain technology in the country since the deputies have ensured that 500,000 euros are invested in bringing blockchain technology to France.

Jean-Michele Mis is confident about bringing this inno0vative technology to France, stating that the next year, 2019, will be the year of blockchain in France.

Mis, one of the blockchain supporters and a member of the Parliament of France, further stated that blockchain will be used in everyday lives of people in France as the technology is transiting from being experimental to gaining industrial proportions with different implementations and integrations.

What the two MPs are recommending for the revolution of blockchain technology in France is to implement blockchain in public sectors in the same manner that this innovative technology is being implemented in private sectors.

The cryptocurrency supporters from the Parliament also stated that “it is time to invest…and accelerate with (French and European) public money.”

La Raudière suggested that either the National Bank of France or the European Central Bank should take the initiative of issuing cryptocurrencies, which means that the MPs also have pro-cryptocurrency policy besides form pushing the adoption of blockchain in the country.

Christine Lagarde, the managing director of (IMF), International Monetary Fund, had a similar suggestion a month back, stating that cryptocurrencies make payments cheap, safe, secure and fast.

Lagarde hinted that the central banks of Uruguay, China, Sweden, and Canada are already working on creating a suitable ecosystem for cryptocurrencies.

The blockchain technology alongside cryptocurrencies is slowly being adopted and France plans to stay on the head of the technological revolution.


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