Will France become a blockchain nation in 2019?

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France may more in the new at the moment for the ‘gilets-jaune’ protest, but according to a report from CCN, two pro-crypto members of the French Parliament (Parlement français) want the country to invest up to 500 million euros in blockchain programs to elevate France as a “blockchain nation.”

The two Deputies, Jean-Michel Mis and Laure de La Raudière, released a report on Dec. 12 outlining 20 proposals to support the development and mainstream adoption of blockchain, according to French financial newspaper Les Echos.

Jean-Michel Mis said, “2019 will be the year of the blockchain in France. This 10-year technology is moving out of the experimental stage into industrial implementation. The public will see the emergence of its uses in their daily lives.”

Laure de La Raudière also stressed the urgency of the matter, saying that France needed to get ahead of other nations and capitalise on what blockchain could offer the country. She also pointed out that France had arrived late to the Internet revolution and that it shouldn’t let that happen in the case of the blockchain.

“France must have a conquering philosophy on this subject,” de La Raudière told French financial website Journal du Net. “I’m sounding the alarm: It is time to invest…We must accelerate with French and European public money.” She also suggested that the Bank of France, or the European Central Bank, should consider issuing digital currencies. This is similar to the suggestion made by Christine Lagarde, the managing director of the International Monetary Fund (IMF), who said recently that the central banks of Sweden, China, Canada, and Uruguay were already working on this. She said,

“The advantage is clear; your payment would be immediate, safe, cheap and potentially semi-anonymous…and central banks would retain a sure footing in payments.”

The two politicians suggested that one way to maximise France’s position was to invest significantly in blockchain research using funding through the French National Research Agency (Agence Nationale de la Recherche. They also called on France’s public sector to look into to more ways of using the technology and take a leaf out of the private sector’s approach to using it.

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