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France to Incorporate Study of Cryptocurrency in Syllabus

France to Incorporate Study of Cryptocurrency in Syllabus

France to Incorporate Study of Cryptocurrency in Syllabus

The Ministry of National Education of France recently made amendments in its educational plan, incorporating the study of bitcoin and cryptocurrencies in the syllabus.

The move was in a bid to make the French learners acquainted with the basic knowledge of cryptocurrencies. Moreover, teachers will be expected to emphasize upon the impact of cryptocurrencies on the French as well as the global economy.

As per the report, the teachers will be provided with three explainer videos by the ministry. These video will focus on three facets, namely, Bitcoin, the currency of the future, is it possible for Bitcoin to replace the Euro? and lastly, “Do you trust your currency? This will enable the students to compare the significance of cryptocurrencies against fiat, and their role in the global economy.

Educating the youth is essential for them to adhere to the evolving technologies and is the first step to spearheading mass adoption. This move by France comes after the prevalence and adoption of cryptocurrencies is increasing among the masses which makes having basic knowledge about cryptocurrencies an essential.

In September 2019, during the Paris Retail Week, 25000 retails stores of 30  French retailers announced acceptance of Bitcoin payments by early 2020. The increasing adoption in France is clearly depicted by the statistics. France has also been a blockchain hub for lucrative job opportunities. Last year, International Business Machines (IBM) announced initiatives and investments for the creation of 1,800 blockchain-based jobs in the country.

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France Announces G7 Crypto Task Force

G7

France’s central bank has announced plans to create a G7 task to specifically look into cryptocurrency regulations.

Governor Francois Villeroy de Galhau has selected a European Central Bank board member to lead its investigative team, stamping its authority as the current President of the Group of Seven Nations (G7)

The Group of Seven is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. These countries, with the seven largest IMF-described advanced economies in the world, represent 58% of the global net wealth.

“We want to combine being open to innovation with firmness on regulation. This is in everyone’s interest,” Villeroy commented on Friday, adding that what constitutes stability when it comes to finance needs clearer definition, referring of course to cryptocurrency stablecoins and news of Facebook’s much-publicized plans to join the market.

The governor also wants the European Banking Authority to flex its muscles in order to be able to override individual jurisdictions in Europe and create a network of national anti-money-laundering authorities; a much-approved move, given that many countries have been calling for such an agency for some time.

France, which holds the rotating presidency of the Group of Seven nations, has said it does not oppose Facebook creating an instrument for financial transactions. But it adamantly opposes that instrument becoming a sovereign currency.

The French are not alone in ramping up its attempts to keep a closer eye on cryptocurrency. Since Facebook entered the fray, many governments have started to call for ramping up anti-money laundering legislation over fears of an increase in illegal activity moving forward.

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Blockchain Boosts Major French Supermarket’s Sales

French supermarket chain Carrefour has revealed that blockchain tracking is boosting sales of some its products namely meat, milk and fruit.

As reported by Bitcoin News in 2018, US retail giant Walmart and French supermarket chain Carrefour have continued to be drivers of the move towards blockchain for supply chains and are setting standards for other companies to employ and further develop moving forward. Two other major grocery chains such as Unilever and Nestlé, are also using the technology to trace food contamination.

In 2018, Carrefour extended its trials in French supermarkets from initially packaging poultry products to further inform customers on products using blockchain to tracking 20 out of its 300 Carrefour-branded products across the supply chain, with 40 more products planned this year. The company has also extended its poultry tracking to some of its Spanish supermarkets.

Carrefour blockchain project manager Emmanuel Delerm commented on the extension of its current blockchain project, “You are building a halo effect – ‘If I can trust Carrefour with this chicken, I can also trust Carrefour for their apples or cheese, and suggests that many of the companies customers are millennials who are often more concerned about health than price’.”

Things are moving more rapidly due to blockchain, Delerm argues, particular items like grapefruits which can now be scanned using a phone which immediately reveals the date and location of harvest, the owner of the farm, when it was packed, how long it took to transport to Europe and tips on how to prepare it.

Carrefour is now looking at non-food lines such as clothing items now it is satisfied that the blockchain project is boosting sales.

 

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French Crypto Artist Pascal Boyart Is At It Again With Faketoshi In His Sights

Bitcoin News has been following the work of French crypto artist Pascal Boyart with great interest, and he’s back with another controversial piece. This time, he is targeting the self-confessed and much-disputed founder of Bitcoin, Australian Craig Wright.

His latest work takes a swipe at Wright, now dubbed Faketoshi for his claims to be the brains behind the crypto that’s taken the financial world by storm and is currently making a dramatic comeback. The work, with no sense of irony at all, is completed on toilet paper where Wright’s portrait is displayed under lights with the words “Fake Satoshi” clearly emblazoned above the head of the claimant of cryptocurrencies greatest idea.

Boyart is always controversial, and never short of ideas when it comes to Bitcoin and blockchain-related artwork. The artist is probably best remembered for recent works such as embedding the clues to a USD 1,000 prize in ‘La liberté guidant le peuple 2019’. The prize hidden somewhere in the art was the public wallet address containing BTC 0.28492509.

At Bitcoin’s 10th birthday celebration in Paris last year, Boyart organized Art (r)evolution, calling it a unique opportunity for creative minds to explore how exactly the emerging technologies of blockchain and cryptocurrency may influence the art world. Contributing artists were asked to hide Bitcoin symbols within their work somewhere not easily visible to surprise buyers and attendees.

This is not the first time that Wright has had to wear biting criticism but in this piece, there are none of Boyart’s usual hidden messages, which clearly illustrates exactly where the artist is on the subject of Wright’s Satoshi claims.

 

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Investment Bank Société Générale Pushes for Crypto-Based Businesses Integration

Investment Bank Société Générale Push for Crypto-Based Businesses

In a recent tweet, French multinational investment bank Société Générale S.A. (SocGen) factored in ‘integration’ as a crucial competitive benchmark for European banking and its financial system.

« La compétitivité du système bancaire et financier européen dépendra d’une meilleure intégration. Nous avons besoin d’acteurs européens compétitifs par rapport aux autres acteurs américains et asiatiques. » @LBiniSmaghi #FutureOfEurope @europlace pic.twitter.com/I6jvQ6NZ0H

— Groupe Société Générale (@SocieteGenerale) May 10, 2019

Recently, the SocGen transacted debt backed by mortgages worth over EUR 100 million (USD 112 million) in the form of security digital assets. According to a report from the bank, a subsidiary of the bank (Société Générale SFH, the covered bond vehicle of Société Générale) may have been involved in the transaction with the main bank as the sole buyer.

The bank may have demonstrated the possibility of transacting bonds at a greater speed and efficiency using the distributed ledger and its underlying asset properties. In this case, assets were developed on the Ethereum blockchain, rather than a proprietary blockchain or distributed ledger. The bank stated:

“[…] issued EUR 100 million of covered bonds in the form of “security tokens” (home financing bonds or “OFH”) directly registered on the Ethereum blockchain. Tokens OFH was rated Aaa / AAA by Moody’s and Fitch and were fully subscribed by Société Générale.”

Moreover, the bank had stated the benefits of such transactions also included increased transparency, faster securities transfer, and settlement, noting how the Group’s digital transformation is accelerating through the use of new technologies to innovate and better serve its customers.

While it may seem like a good thing for the investment bank, others from the cryptocurrency ecosystem aren’t too impressed. Romal Almazo, cryptocurrency and digital asset lead at Capco is of the opinion that tokenization will indeed occur in the finance sector however, it would take a while before a mainstream application will be widely adopted, an outcome heavily dependent on the maturity of the industry.

Nonetheless, a sporadic increase in the integration of blockchain properties into banking can’t be so easily dismissed. Recently, Nordea reportedly expanded access to its blockchain-based trading platform we.trade to include small and medium-sized enterprises in order to service a broader spectrum of customers.

 

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Blockchain Impact on Grocery Supply Chains Continues to Increase

The latest Gartner research has indicated that the move by major grocery chains towards using blockchain technology is continuing to gain ground.

Gartner, officially known as Gartner, Inc. is a global research and advisory firm providing insights, advice, and tools for leaders in IT, Finance, HR, Customer Service and Support, Legal and Compliance, Marketing, Sales, and Supply Chain functions across the world.

The research shows that 10% of the top 10 global grocers will use blockchain for food safety and traceability by 2025. Joanne Joilet, Gartner’s Senior Research Director commented:

“Blockchain can help deliver confidence to their customers, and build and retain trust and loyalty,” adding “Grocery retailers are trialing and looking to adopt the technology to provide transparency for their products. Additionally, understanding and pinpointing the product source quickly may be used internally, for example, to identify products included in a recall.”

As reported by BitcoinNews in 2018, US retail giant Walmart and French Supermarket Chain Carrefour have continued to be drivers of the move towards blockchain for supply chains and are setting standards for other companies to employ and further develop moving forward. Two other major grocery chains such as Unilever and Nestlé, are also using the technology to trace food contamination.

Carrefour extended its trials in French supermarkets from initially packaging poultry products to further inform customers on products using blockchain to tracking 20 out of its 300 Carrefour-branded products across the supply chain, with 40 more products planned this year.

With the grocery industry expected to set higher standards of visibility and traceability using technology,  Joliet sees blockchain as moving far beyond its limited application within the grocery sector to “all areas of retail.”

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Samsung’s $2.9 Million Investment in Custody Giant Ledger Shows Major Players Watching Crypto

South Korean Electronics Giant Samsung has announced a USD 2.9 million investment in the French crypto wallet maker Ledger.

The investment firmly stakes Samsung’s claim as a cryptocurrency player after Samsung Ventures led a USD 4 million round in ZenGo, a startup developing keyless crypto wallets, amidst rumors that the company is also developing its own Ethereum-based Blockchain network with the probable issuance of its own token, “Samsung coin”.

Recently, the electronics giant revealed the latest Galaxy S10 which includes a crypto wallet which is compatible with ether and Ethereum-based ERC-20 tokens. It also supports a number of Dapps such as merchant payments services, crypto gaming platforms, and crypto collectible platforms. The S10 can store crypto private keys and supports many digital features including digital signatures.

Its thought that if Samsung Coin does go ahead, there has been some significant forward planning in terms of Samsung gaining a stake in Ledger as the French company’s ERC20 compliant hardware wallets will benefit the users of Samsung Coin.

The market looks positive for the French wallet maker. Eric Larchevêque, CEO of Ledger, recently said that he is optimistic for the future of cryptocurrency industry, as he prepares for “a whole new generation of consumers” adding:

“There is still a need for a new generation of hardware wallet and consumers are still ready to invest and buy new products. The market is still here.”

At the end of 2018, Ledger announced a partnership with blockchain-based equity fundraising platform Neufund to allow users manage their security tokens on the Ledger desktop app.

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Latest BitFlyer Poll Sees European Confidence in Crypto High

A recent bitFlyer European study of consumer confidence in cryptocurrency has released figures showing a growing interest in the technology across the continent.

The study by the Japanese crypto and blockchain company selected a range of respondents from across Europe by selecting 10 pools of 1,000 people from each nation. The countries chosen for the study were Belgium, Denmark, France, Germany, Italy, the Netherlands, Norway, Poland, Spain, and the U.K.

One revelation coming from the results pointed to cryptocurrency, in general, being capable of having more legs than Bitcoin as a specific project, in fact only 7 percent of respondents saw Bitcoin as existing in its current form as an investment and security token 10 years on, although 49 percent envisaged it existing in some other form.

Cryptocurrency as a general concept fared much better, with 63 percent of respondents coming back favorably. In terms of geographical difference, given that the countries all came within a fairly tight regional group given the nature of the EU, the only clear correlation was that Britain, France, and Belgium all scored low in terms of showing low confidence in the proposition that the crypto space would exist in 10 years. However, Belgium returned some of the highest confidence rates that Bitcoin will continue being used as an investment tool over the same period.

In terms of the popularity of the general crypto space, a decade on Norway and France were polar opposites in terms of the respondents’ answers, with Norway giving the tech the biggest endorsement. It was noted that the survey was limited in its scope as it offered only one question “Do you think bitcoin will still exist in 10 years’ time?” meaning that there was little scope for the researchers to cover the multiple available responses.

With Bitcoin showing some recovery recently and Bitcoin believers in this particular study returning 50 percent and crypto more than 6o percent faith in the future of the technology its not unexpected that these European figures could rise over the coming months.

 

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Brexit, Binance and Bitcoin: A New Era for Crypto in the UK?

Brexit, Binance and Bitcoin: A New Era for Crypto in the UK?

With the clock ticking on Britain’s much-debated exit from membership of the EU and all that means if a decision is finally agreed by September, where will this leave the UK in European Crypto Space? In a position of strength, or cut-off from its legislative support on the other side of the channel?

Well, no man is an island according to English metaphysical poet John Donne, but at this moment in time, it appears that the UK is digging its own hole in the sand as each week passes towards the latest agreed date of departure, when Great Britain and Northern Ireland hopefully get its rules back from the longtime European partners; the leaver’s much heralded and acclaimed  “taking back control.”

Does this even matter when it comes to cryptocurrency trading? In the UK the banks are aware of it, the Bank of England is monitoring it, and the man on the street pretty much knows about it. Bitcoin continues to be classified as private money, with VAT applied and also subject to capital gains tax, where profits and losses are involved.

However-and Britain has illustrated with great clarity to a dumbfounded Europe with its Brexit machinations-it is often slow to make decisions and enforce regulations; in fact, the UK now risks falling behind its European partners regarding cryptocurrency regulations unless it acts with more clarity and decisiveness, and guess who has taken up the leading role in this regard? The French…that must hurt.

Yes, the UK’s Financial Services Authority (FSA) did release a recent update of its progress which is currently in the hands of the specially selected Cryptoassets Taskforce.  However, a series of final guidelines or policy guidelines are still awaited from the FSA after the release of this consultation paper as far as regulatory dynamics go. With France now happy to lead Europe on a regulatory charge, Britain could be left counting its fingers after Brexit.

There are those in the UK however who like what they see in terms of crypto’s future after Brexit. Mike Romanov chief executive of Digital Securities Exchange (DSX) feels it can continue its dominance in the financial markets and crypto could come under the UK rather than EU legislative control. Others see an opportunity too, with a dent left in the Euro cryptocurrency market as Britain goes into its own crypto shell, out of reach from the EU’s legislative grasp, opening the door for new smaller players outside of the EU to leap in and plug some holes.

This is the Bitcoin bull’s stance, Britain hopes for friendlier digital currency regulations than it has at present. Another consideration is what might happen to the price of BTC with the impact of a final departure or possible vote to remain (the usual suspects) this year. There is a general feeling that it is simply the Brexit debate which is pinning the economy down and any kind of departure from this pain will be a release for both traditional and digital financial markets. According to the Bank of England, the economy has been shedding about £800M every week since they made the verdict in 2016.

There is one man who is just happy at what he sees, and if it continues, well then long may it do so. Enter Binance CEO Changpeng Zhao who, having now set up in Jersey is in the right place at the right time; well located for Europeans and Brits alike, whatever the outcome. With the existing offshore legal and regulatory framework for cryptocurrency, it is made to measure, given that there is now more than just a hint that Brits could turn to cryptocurrency come the predicted economic fallout given a no deal Brexit this year, and for this event, Zhao sees himself in the front line.

When it comes to crypto, the front line is always the place to be.

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France Will Push EU to Adopt New Crypto Regulatory Framework

France Will Push EU to Adopt New Crypto Regulatory Framework

France is keen for her European Union neighbors to adopt a similar framework for cryptocurrency to its own newly- formed financial sector legislation.

Its new laws have been structured to keep the Finance Ministry, exchanges, and traders satisfied that there is a little bit of harmony for all, and a relief for many traders who have been expecting a tightening of cryptocurrency guidelines this year.

French Finance Minister Bruno Le Maire clearly wants to share the joy with the rest of Europe, although at this stage it seems unlikely that the UK would come on board with Brexit and European elections looming. France has jumped to head of the Euro queue in adopting a national regulatory framework and sees this as a solution for the other 26, or possibly 27. Le Maire commented:

“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 is clearly confident, adding that “our model is the right one”, although it remains to be seen how this suggestion will be greeted by other EU members.

The French government’s new cryptocurrency bill will now give the opportunity for startups and platforms that want to issue new cryptocurrencies or trade existing ones to apply for a certification giving companies official state recognition. This means that the rest of Europe will now be playing catchup. The certification will be granted by French market regulator and issuers, traders, custodians, and investors will have to pay taxes on their profits.

Transparency is seen as key by the French Finance Ministry and those applying for certification under the new rules will need to be thorough in furnishing business plans, AML, KYC, and be clear about exactly who is conducting and overseeing the business. Those not choosing to seek registration could be left in a vulnerable position.

 

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