Blockchain Technology

According to news-outlet Les-Echos, two French Members of Parliament (MP), have submitted a report to the government, asking them to invest around 500 million Euros in blockchain programs, to help build a “Blockchain Nation.”

Jean-Michel Mis, along with Laure de La Raudière authored the report and submitted it on December 12. The report containing 20 proposals seeks to support the development and adoption of the blockchain in the country.

National Research Agency and the French Public Investment Bank (BPI) have been recommended by the MPs to lead blockchain-related projects. The MPs want France to connect with the blockchain industry, well before countries like China and USA step into the market.

According to Laure de La Raudière, France was late to join in the internet revolution and expected not to repeat the same mistake and miss out on this opportunity.

The report translated from French said:

“2018 was year zero for the popularization of blockchain in France. 2019 must be the year of the emergence of the ecosystem.”

Jean-Michel Mis also added on how the next year is going to be all about Blockchain, by stating: “2019 is going to be the year that France deploys the Blockchain. This 10-year technology has started moving past the experimental stage. It is now mainly about industrial implementation. Members of the public will like to see the emergence of the uses of Blockchain technology in their day to day lives.”

Members of Parliament

In an interview with Journal du Net, Laure de La Raudière said:

“We must propose a conquering philosophy regarding this subject. I’m now sounding the alarm: this is the time to invest. We must ensure the acceleration of our nation with French and European public money.”

To strengthen France’s position in the blockchain industry, Jean-Michel Mis and Laure de La Raudière want Agence Nationale de la Recherche (the French National Research Agency) to make major investments into Blockchain research.

Recently, the French Government passed PACTE act, to create Initial Coin Offerings (ICO) in the country; also passing PLF 2019, a finance bill that clarifies regulation and taxation of cryptocurrencies in France.

French President Emmanuel Macron has pledged over $1.55 billion in public spending for the creation of artificial intelligence (AI) technology by 2022. Both technologies have vast differences and must not be compared, warned Mis.

Laura de La Raudière recommended that banks like European Central Bank and Bank of France must consider issuing cryptocurrencies.

Christine Lagarde, managing director of International Monetary Fund (IMF), said that the Central Banks of China, Uruguay, Sweden, and Canada are already working on creating virtual currencies.