Earlier in July 2016, the bank was accompanied by the startup Labo Blockchain in cooperation with the Caisse des Dépôts et Consignations and numerous other French banking groups to test the blockchain technology on SEPA creditor Identifier, one of the distributed ledgers that it manages. This experiment was the first publically acknowledged blockchain trial by the bank and aimed to gauge the consequences of possible decentralizing ledger management functions, in addition to technology and security issues.
Furthermore, as of October 2016, a blockchain infrastructure was tested to create SCIs between participants. There were also working meetings on professional, technical and legal aspects. The Banque de France provided elements of the software suite, which these participants installed in an external cloud or in their own trial IT system.
In the coming months, the bank plans to conduct a comprehensive assessment to consider the findings of this experiment.
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