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ConsenSys will create the CBDC of Societe Generale
ConsenSys will create the CBDC of Societe Generale
Stable Coin

ConsenSys will create the CBDC of Societe Generale

By Alfredo de Candia - 28 Oct 2020

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Through a press release, we learn that ConsenSys, a platform for the analysis of onchain data and not only, has been chosen by Societe Generale – Forge to create a new CBDC (Central Bank Digital Currency).

It is worth mentioning that Societe Generale – Forge is a subsidiary of the group of the same name and also provides financial services and products in the field of STs (Security Tokens). Last year alone, the company had a total of 100 million euros in bonds on the blockchain.

This year the group has provided a total of 40 million euros for the CBDC in cooperation with Banque de France, which is the central bank of France, thereby keeping everything under the control of a central and regulated entity.

In order to do this, it was necessary to choose an ideal partner that would help in the management, in particular from a technical point of view, which is why for the new project the choice fell on a well-known company in the DLT sector, as recalled by Societe Generale – Forge CEO Jean-Marc Stenger:

“We are pleased to partner with ConsenSys, a company who is a key player in the development of distributed ledger technology globally and offers many of the infrastructure and development tools used by the blockchain community”.

The project will involve 6 banks worldwide, explained Ken Timsit, global head of enterprise solutions at ConsenSys:

“We have high regard for the accomplishments of Societe Generale – Forge and are proud to be working with them. ConsenSys is committed to advances in the CBDC space and has assisted six central banks around the world on CBDC projects”.

The latest news on Consensys and CBDCs

Surely the latest news released by ConsenSys have favoured this choice, such as the launch of MetaMask Swap and the recent acquisition of Quorum from JP Morgan, which at this point perhaps could be the ideal, ready-to-use platform to launch this new French CBDC.

At this point, everyone is pushing in this direction, including the Bank of England, Deutsche Bank, but also MasterCard, which is about to launch tests for CBDCs.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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