After Bruno Le Maire earlier this week, it is Jean-Noël Barrot’s turn to announce the French government’s commitment to the blockchain industry. Indeed, the deputy minister in charge of the digital transition has announced that public funds will be used to support the non-fungible tokens (NFTs) industry.
The French government plans to support the ecosystem of NFTs
Jean-Noël Barrot spoke at the opening of NFT Factory, a space dedicated to non-replaceable tokens in Paris. The minister-deputy for the digital transition has issued a letter of intent: France wants to open up to blockchain technologies:
” France wants to take over the web3, which will revolutionize the Internet and its use. »
Noting that the country intended to reconnect with ” the open and decentralized spirit of its origin”, Jean-Noël Barrot confirms that the government intends to develop close ties with local players. In particular, the minister’s deputy points to three key blockchain applications that will be supported: lcryptocurrencies, decentralized finance (DeFi), as well as NFTs.
👉 Read – What is a non-fungible token (NFT)?
Discover the NFTs of the biggest brands
Buy, sell or trade NFTs
A European and global hub for NFTs
Jean-Noël Barrot points the finger of the ” to care “ regarding DeFi and NFTs. He says he is aware of the latter’s interests in terms of carbon footprint. In addition, he points out that the use of non-fungible tokens is not yet very clear.
But according to the minister’s deputy, France must now position itself to take advantage of these technologies:
“France has all the assets be a European and likely global hub for NFTs. »
Indeed, France is historically strong in areas where NFTs have exploded: culture, video games and the luxury industry in particular. So it’s about building a bridge with existing global and technology players, according to the delegated minister:
“Guide this movement is the responsibility of the government […] with support from public money. »
In particular, this concerns a European metaverse, which was already mentioned by Emmanuel Macron at the beginning of this year. But of course also by a more comprehensive regulatory framework for NFTswhose status is being clarified worldwide.
👉 Also discover – What is DeFi? All about decentralized finance
Order our book to understand all about cryptos
Published by Editions Larousse
The French government is opening up to the blockchain
In any case, this declaration of intent is particularly remarkable for the ecosystem. Especially since at the beginning of the week the Economy Minister Bruno Le Maire confirmed that he wanted France to become ” the European crypto asset hub ».
These joint statements therefore highlight: an important change of course for the government. Historically quite hesitant on blockchain, it seems that it has decided to support this major technological change while being highly regulated.
👉 Don’t miss – The Ministry of Economy has requested access to the balance of all French bank accounts
Join experts and a premium community
Invest in your crypto knowledge for the next bull run
Receive a summary of crypto news by email every Monday 👌
What you need to know about affiliate links. This page presents assets, products or services related to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused by the use of any good or service mentioned in this article. Investments related to crypto assets are inherently risky, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article is not investment advice.