French government allows trading unlisted securities on blockchain

France has passed new rules allowing banks and fintech firms to establish blockchain platforms for unlisted securities trading
11 December 2017   886

Earlier this year French government has established blockchain working group to research possible blockchain implementations and to assess its benefits and applications for the public sector.

Now France adopts a new set of rules, regarding blockchain usage in financial sector to allow various financial agents, including banks and fintech groups, to establish blockchain-driven platforms for trading unlisted securities. This allows trade without reliance on middlemen, such as brokers ans custodian banks, and, in theory, all exchange will happen at near-instant speeds.

Use of blockchain technology will allow various financial agents to develop new ways of trading securities that are faster, cheaper, more reliable and more open, said Finance Minister Bruno Le Maire.

Le Maire added on this topic, that such a move would be another asset for Paris' attractiveness as a financial center. This is beneficial to French effort to displace London as a current fintech powerhouse.

Eager to make Paris more attractive to business after Brexit, French government has already passed a set of laws to facilitate economical development of the city. Now, the introduction of blockchain will set a precedent to usage of shared digital ledgers.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   107

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.