In recent years, Ethereum development studio ConsenSys has made it one of its foremost goals to formally bring central bank digital currency (CBDC) projects into the fold of Ethereum’s ecosystem. Now, the mission’s more in reach than ever.
That’s because this week we saw ConsenSys selected as a CBDC technology partner by not one but two major banks: the digital markets arm of French investment bank and financial services powerhouse Société Générale (SocGen) and the Bank of Thailand, the central bank of Asia’s 11th-largest economy.
These high-profile developments come after the dev studio has published extensive resources — like case studies, videos, webinars, whitepapers, and more — on why blockchain-based CBDCs and specifically Ethereum-based CBDCs make a lot of sense in the public and private sectors going forward.
Alas, all the hard work’s paying off and perhaps leading to the future of payments of in general.
SocGen Has Experiments, ConsenSys the Expertise
On Wednesday, Oct. 28th, ConsenSys and SocGen – Forge — the digital capital markets division of the bank — jointly announced their new Ethereum-centric partnership as part of the bank’s “ongoing Central Bank Digital Currency (CBDC) pilot activities.”
Indeed, SocGen’s generally no stranger to Ethereum or CBDC ventures. Last year the bank issued €100 million worth of security tokens atop Ethereum, while earlier this year the institution helped the Banque de France complete a CBDC settlement trial, in which SocGen security tokens were settled with an experimental digital euro.
Going forward, then, ConsenSys will supply SocGen – Forge with “technology and expertise” around CBDC matters like cross-ledger interoperability and beyond.
“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,” Jean-Marc…