• Sat, 25 May 2019, 02:55 PM
  • All times are UTC
  • Edition:
Link copied

French government to invest €4.5B into blockchain technologies

Guillaume Souvant/AFP via Getty Images

Tue, 16 Apr 2019, 11:53 am UTC

French finance minister Bruno Le Maire has revealed the government’s plan to invest 4.5 billion euros in blockchain and other cutting-edge technologies over the next five years.

According to a translated transcript of the minister’s interview with a French business magazine published by Trust Nodes, Le Maire said that the development of the blockchain ecosystem is a priority for the government.

He said that the government has an “ambitious blockchain strategy” adding that it has identified more than 200 innovative blockchain projects developed in the country.

“Over the next five years, the state will invest 4.5 billion euros in breakthrough innovations, including blockchain technologies. It is an important commitment,” Le Maire said. “The goal is to take a technological lead for French and European tech companies to be able to compete against the Chinese and American technological giants.”

He went on to explain that the funding has been proposed in the form of calls for projects. The government has launched the “Innovation – Growth Competition” to support innovative projects, particularly focused on blockchain technology.

He also outlined the focus areas for the blockchain strategy – blockchain implementation in French industrial sectors, funding innovative blockchain projects, and assisting projects particularly with regard to legal and regulatory aspects.

Further reflecting on the recently passed PACTE Act, Le Maire said the government has “put in place an unprecedented and an attractive legal framework for token issuance and digital asset service providers.”

On Monday, Le Maire said that he will urge the European Union to adopt a similar regulatory framework on cryptocurrencies, Reuters reported. According to the bill, firms that intend to issue new cryptocurrencies or trade existing ones would be able to apply for a certification.

“I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience,” Le Maire said. “Our model is the right one.”

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,046.12 (+0.16%)
  • Ethereum (ETH) $251.88 (-0.08%)
  • XRP (XRP) $0.387600 (-0.30%)
  • Bitcoin Cash (BCH) $407.59 (-2.00%)
  • Litecoin (LTC) $101.39 (+2.50%)
  • Bitcoin (BTC) $8,046.12 (+0.16%)
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
Rep. Swalwell accepting bitcoin donations in bid for US presidency
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
Binance CEO CZ seeks compensation for reputational damage from Sequoia
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
Coinstar extends bitcoin buying service to 21 US states
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.