The Bank of France did yet another CBDC test on a “public blockchain” on 6/18/20. Prior tests have been on ETHEREUM; reasonable to assume this smart contract test was as well
The bank of France successfully did ANOTHER CBDC test on Ethereum 6/18/21 and no one is talking about it.
In a press release issued two days ago (6/20/21), the bank of France noted it has been carrying out a series of CBDC tests since March.
The original legwork for these test was first announced in oct 2020 when, Consensys, a European blockchain developer for ethereum, announced that they were going to work with Societe Generale – Forge, the bank's digital assets arm, providing technology and expertise as part of ongoing CBDC pilot efforts.
In April, Lex Sokolin, head economist at ConsenSys, said: "We think that Ethereum will become a global digital economy, settling the movement of all types of value across the world, including a meaningful portion of traditional financial services."
The third test in an ongoing series was the 24 hr settlement of a 100million EIP issued bond in April.
Specifically, on 27 April 2021, the EIB launched a multi-dealer unsubordinated, unsecured 2-year bond issuance (EUR 100,000,000) on the Ethereum mainnet, for the registration and settlement of the securities, in collaboration with Goldman Sachs, Santander and Societe Generale.
In a partnership with Banque de France, the payment of the issue monies from the underwriters to the EIB were represented on the Ethereum mainnet in the form of Central Bank Digital Currency (CBDC).
In an April 28th press release, Linklaters LLP, an international banking firm, noted: “We are delighted to have been involved in this first of its kind transaction, providing capital markets, data protection, fintech, outsourcing, tax, technology and US federal securities law advice to valued client EIB across a range of jurisdictions. Our global team worked hard to assist our client navigate highly innovative and complex issues, including the registration of the Notes in the Ethereum public blockchain (as a dispositif d’enregistrement électronique partagé under French law) and their issue on a delivery versus delivery basis against CBDC.”
This month, on 6/18/21, a second test was performed “on a public blockchain” to test smart contract settlement of securities using TARGET-2 Securities (TS2), the European securities settlement project.
In the test, the CBDCs represented listed securities designed to trigger TARGET2-Securities on its Conditional Securities Delivery feature. Though the central bank didn't' state the name of the public blockchain, it has previously used Ethereum in its experiments.
The test was performed in collaboration with Switzerland-based cryptocurrency bank, SEBA, LuxCSD, and Luxembourg’s oldest private bank, Banque Internationale à Luxembourg.
A total of 8 experiments are planned to date. Notably, another experiment between the Banque of France and Switzerland’s Central Bank is to commence sometime in the near future.
The joint experiment (“Project Jura”) will explore cross-border settlement with two wholesale CBDCs and a French digital financial instrument on a distributed ledger technology (DLT) platform. It will involve the exchange of the financial instrument against a euro wholesale CBDC through a delivery versus payment (DvP) settlement mechanism and the exchange of a euro wholesale CBDC against a Swiss franc wholesale CBDC through a payment versus payment (PvP) settlement mechanism. These transactions will be settled between banks domiciled in France and in Switzerland, respectively.
Source:
https://www.coindesk.com/ethereum-developer-consensys-to-assist-french-bank-with-cbdc-pilot
https://cointelegraph.com/news/100m-euro-digital-bond-was-a-cbdc-test-says-banque-de-france
https://www.theblockcrypto.com/linked/109149/bank-of-france-cbdc-experiment-swiss-seba-bank
submitted by /u/afirebrand
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