The Bank of France: Looking forward to cooperating with more blockchain companies to promote the innovative development of financial technology

According to Huobi Blockchain Research Center, the French central bank, the Banque de France, is opening a new innovation lab in the hope of collaborating with blockchain startups. A speech delivered by Villeroy de Galhau, the governor of the French central bank, at the end of last month was released today, indicating that the central bank hopes to increase cooperation with technology companies.

In December, central bank officials unveiled details of a digital identity trial in which the central bank partnered with public-private investment office Caisse des Dépôts et Consignations, Paris startup Labo Blockchain and an undisclosed number of domestic banks.

Huobi Blockchain Research Center learned that a few months before launching this trial, the Bank of France advocated for more research on blockchain.

According to de Galhau's speech at the Paris Fintech Forum, the central bank wants to do more to promote fintech innovation. To promote innovation, officials are opening a new laboratory through which they will work with startups to research blockchain prototypes and conduct blockchain experiments.

“We are learning from you,” De Galhau told forum attendees, advocating for creating a broad space for startups, including those using blockchain.

De Galhau explained:

“The digitalization of the financial sector will accelerate this positive process: it helps spread technological advances such as electronic signatures, protection against cyberattacks, and solutions based on distributed ledger technologies. Innovative and secure payment methods, such as the upcoming blockchain technology, can also help accelerate the development of e-commerce and modernize physical trade.”

Details on when the lab will open were not immediately available, but de Galhau said the central bank would be aggressive in its plans for financial technology innovation.

"I am confident that we will move full speed ahead towards this goal," he said.