The first deputy governor of the French central bank has called for distributed ledger technology (DLT)-based settlements and payment systems in Europe. Speaking at the AFME Annual Capital Markets Technology and Innovation Conference on Nov. 21, Denis Beau, the first deputy governor of Banque de France, delved into the issue of policy frameworks that could potentially help to bring innovation and growth into Europe’s capital markets. An important impact on the financial industry Beau suggested that the implementation of blockchain-based solutions could have an impact on the financial industry, stating: “The tokenisation of financial assets combined with the recourse to …

The French Armies and Gendarmerie’s Information and Public Relations Center has validated judicial expenses incurred during investigations on the Tezos (XTZ) blockchain. A press release published on Nov. 20 notes that the Gendarmerie’s cybercrime division (C3N) used the system to buy cryptocurrency from Europol-allocated funds and cover its operational costs with those assets. Blockchain ensures the ability to audit Tezos’ main development and research center, Nomadic Labs, claims that the system employs “the first smart contract ever developed by a public authority.” The program enables C3N to buy cryptocurrency from Europol-allocated funds and cover its operational costs with those assets. …

Retail giants Carrefour and Nestlé are now using IBM’s Food Trust blockchain platform to track the supply chain of milk-based formula for infants, according to a Nov. 14 announcement. By using the platform, the firms aim to advance consumer confidence in the products’ quality by ensuring more transparency of the entire supply chain of formulas produced by Laboratoires Guigoz. The system aims to improve supply chain transparency and conduct checks of infant nutrition products’ origins. Implementation of blockchain-based tracking systems by retail giants Both Carrefour and Nestlé are not new to the application of blockchain in their internal processes. The …

French payment firm Ingenico has partnered with Singapore-based crypto startup Pundi X to enable its customers to receive payments in crypto using smartphones. Pundi X has integrated its point-of-sale payment gateway (XPOS) into Ingenico’s mobile portable POS solution APOS A8, the firm announced on Nov. 12. Through this partnership, merchants around the world using Ingenico’s Android-based APOS A8 will now be able to accept a wide number of crypto as payment options. Transactions will be processed directly through Pundi’s XWallet mobile app Specifically, installing the XPOS module on an Ingenico POS terminal will enable payments in cryptocurrencies including Bitcoin (BTC), …

Singapore-based blockchain application platform VeChain has unveiled a new blockchain tracking system for the food and beverage industry. In a blog post on Nov. 7, the company confirmed it was working with food certification group DNV GL and supply chain specialist ASI Group on the project, known as Foodgates. VeChain “direct beneficiary” of pro-blockchain stance The original announcement came at this year’s China International Import Expo (CIIE), being held from 5-10 Nov. in Shanghai. “The immutability of public blockchain coupled with verifiable information makes this solution really unique,” VeChain COO Kevin Feng commented. VeChain revealed Foodgates had already been put …

France is about to introduce an educational module to its high school curriculum that covers Bitcoin (BTC) and cryptocurrencies. In June, the French Ministry of National Education amended its study plan to incorporate the world’s largest cryptocurrency. French educators are expected to teach an introductory course that will assist students in understanding the impact Bitcoin has on the French and global economies. The ministry further provides teachers with three educational explainer videos that address questions such as “Is Bitcoin the currency of the future?”, “Can Bitcoin replace the Euro?” and “Do you have trust in your currency?” According to the …

Five European Union member countries have reportedly teamed up to prevent the issuance of Facebook’s stablecoin Libra. Private meetings to turn EU against Libra Following a series of private meetings in October, France is reportedly leading the anti-Libra effort with Germany, Italy, Spain and the Netherlands, political news publication Politico Europe reports on Oct. 30. Citing sources familiar with the matter, Politico states that the countries’ deputy finance ministers have presented their unified position against Libra to other EU ministers at a private meeting on Oct. 28 in Brussels. According to the report, the group intends to prevent Libra from …

Earlier in October 2019, Binance announced a fiat on-ramp for crypto trading via Chinese payment services Alipay and WeChat. This move was part of the exchange giant’s peer-to-peer (P2P) trading rollout for Bitcoin (BTC), Ether (ETH) and Tether (USDT) against the Chinese yuan. The public nature of this announcement did bring questions to the fore regarding the use of payment channels like Alipay and WeChat for crypto trading. Alipay did, in fact, release statements distancing itself from cryptocurrency trading activities, with Binance later clarifying that it wasn’t working directly with the aforementioned payment services. Meanwhile the evolving narrative around the …

France’s economy and finance minister has repeated his criticism of Facebook’s digital currency Libra, saying he cannot allow its existence. Le Maire: France has “clear position” on Libra In an opinion piece for the Financial Times on Oct. 17, Bruno Le Maire claimed Libra would take power over currency away from national governments. His comments echo similar reservations from Germany’s finance minister, Olaf Scholz, earlier this month. Le Maire wrote: “I cannot countenance one of a sovereign state’s most powerful tools, monetary policy, falling under the remit of entities not subject to democratic control.” France has taken a hardline stance …

Denis Beau, the deputy governor of France’s central bank, Banque de France, recently delivered comments regarding the approach of central banks to cryptocurrencies. Establish appropriate cryptocurrency regulations On Oct. 16, Beau spoke at the Official Monetary and Financial Institutions Forum conference in London, where he discussed the role of cryptocurrency assets in today’s global financial payment system. Beau stated that the traditional bank-based ecosystem could face significant changes due to the many technological developments, such as blockchain and distributed ledger technologies, explaining: “With the emergence of so called crypto-assets [...] and so called stablecoins, we may also see new settlement …

French crypto startup Keplerk has relaunched its service to accept Bitcoin (BTC) payments in over 5,200 tobacco shops in France starting from Oct. 10. Service first launched in January After suspending the service in less than two months after launch in January, Keplerk says that its customers will be able to buy Bitcoin from tobacconists in coupons of 50, 100 or 250 euros, France’s top news channel BFM TV reports Oct. 10. According to the report, Bitcoin payments in all 5,200 locations will be feasible through Keplerk’s partner Bimedia, which will provide payment terminals. As previously reported, Keplerk’s initial launch …

One of the developers of Bitcoin’s (BTC) Lightning Network has secured $8 million in funding from partners, including a bank partially owned by the French state. State-owned Bpifrance funds Lightning development In a news release published on Oct. 9, Bitcoin technology company ACINQ confirmed the investment, which brings the total raised to $10 million. The funding came from the lead contributor Idinvest Partners, which focuses on small and medium-sized European businesses. Also involved was Bpifrance, an investment bank created by two French public entities. As such, the government has come conspicuously close to directly funding the improvement of Bitcoin amid …