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.