The report notes that the Banque de France is conducting its own research into the topic in cooperation with the Financial Stability Board (FSB), a body of central bank governors and government officials from the G-20 group of nations. The FSB highlighted its work in the area in February, and more recently, has been looking at the technology through the lens of financial innovation.
The report highlights how the technology could be used to reshape how markets function. At the same time, the Banque de France report authors argue that the technology is still very largely in the experimental phase.
Beyond its look at blockchain applications, the French central bank indicated that it has been looking at issues related to bitcoin and other digital currencies. It pointed to a previous investor-oriented release in 2013, as well as its work with the FSB on the matter.
The report also highlights some data regarding digital currency transaction volume in the European Union, positioning it against the flow of EUR on a daily basis.
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