March 31, 2020 France’s central bank has requested proposals for a national central bank digital currency.

The Banque de France, France’s central bank, issued a request for proposals for central bank digital currency (CBDC) designs on March 27. The proposals will initially serve a purely experimental role, helping the bank identify the design and risks of such a project and advance the Eurozone’s attempts at digitizing the Euro. The new project will look at three use cases; payment against digital assets, payment against other CBDCs and payment against financial instruments. Beyond this, the bank will examine the possible effects of a CBDC on monetary policy, existing regulation and legislation, market infrastructure and the wider economy. There is no requirement for applications to use blockchain technology although, in its call, the bank did explicitly state that “innovativeness is a selection criterion”.