François Villeroy de Galaou, Governor of the Central Bank of France, during his speech at an online conference organized by the central bank of Germany, spoke about the potential benefits of the private sector role in the development and release of the future European digital currency.
According to the Governor of the Central Bank of France, a public-private partnership will be the way to go in introducing a central bank digital currency (CBDC) for retail users.
Galau also believes synergies between the two sectors could lead to the release of a smarter digital currency, CBDC.
The same opinion is shared by representatives of the Bank of England, who in early 2020 issued a statement that private companies can eliminate any shortcomings in the implicit payment system by using their commercial solutions.
As a reminder, the French central bank is presently collaborating with eight companies, among them Accenture and HSBC, to study the potential regulatory and financial effects of the CBDC launch.
