According to recent reports, the French government has opened the door to Fintech companies and banking institutions to start negotiating securities. unlisted securities on Blockchain technology platforms. Regulatory changes remove the need for intermediaries such as brokerages or stock exchanges.
Change comes with the desire to grow France's international reputation as a financial and technological center. currently enjoys a much larger presence in the field. According to a statement by Finance Minister Bruno Le Maire:
"The use of this new technology will allow fintech companies and other financial players to develop new ways to trade faster securities , cheaper, more transparent and safer. "
According to the statement, listed securities will still be required to pass through the trusted systems.
Blockchain growth
The announcement will provide increasing opportunities for banks and other businesses to use Blockchain technology to eliminate unnecessary mid-level intermediaries in financial trade . The technology has already been used by a number of large corporations for international commercial payments and other applications.