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. The Minister Delegate in charge of the digital transition has indeed announced that public funds will be used to support the industry of non-fungible tokens (NFTs).
The French government intends to support the ecosystem of NFTs
Jean-Noël Barrot was speaking at the opening of NFT Factory, a space dedicated to non-fungible tokens in Paris. The Minister Delegate for the Digital Transition has made a declaration of intent: France wishes to open up to blockchain technologies:
” France wants to take the turn of the Web3, which will profoundly change the Internet and its uses. »
Noting that the country intended to reconnect with ” the open and decentralized spirit of its origins”, Jean-Noël Barrot confirms that the government intends to foster close ties with local players. The Minister Delegate notably points out three major uses of the blockchain which will be supported: lcryptocurrencies, decentralized finance (DeFi), as well as NFTs.
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A European and global hub for NFTs
Jean-Noël Barrot points the finger of the ” worries » regarding DeFi and NFTs. He says he is aware of the stakes of the latter in terms of carbon footprint. In addition, he points out that the uses of non-fungible tokens are not yet very clear.
But according to the Minister Delegate, France must position itself now to take advantage of these technologies:
“France has all the assets to be a European and probably global hub for NFTs. »
France is indeed historically strong in areas where NFTs have exploded: culture, video games and the luxury industry in particular. It is therefore a question of building a bridge with existing global and technological players, according to the Minister Delegate:
“Accompany this movement is the responsibility of public authorities […] with the support of public money. »
This will notably involve a European metaverse, already mentioned by Emmanuel Macron at the start of the year. But also of course by a more comprehensive regulatory framework for NFTswhose status is being clarified worldwide.
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The French government opens up to the blockchain
This declaration of intent is in any case particularly notable for the ecosystem. Especially since at the beginning of the week, the Minister of the Economy Bruno Le Maire affirmed that he wanted France to become ” the European crypto-asset hub ».
These joint statements therefore mark a significant change of course for the government. Historically rather hesitant in terms of blockchain, it seems that it has decided to support this major technological change, while strongly regulating it.
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