Election of Emmanuel Macron: a five-year term under the sign of technology

While Emmanuel Macron is already preparing the implementation of his new reforms, digital technologies, in particular those related to crypto, represent one of the axes of his next five-year term… in a more European than French perspective.

The advent of 100% European technology

During his campaign, the President of the Republic Emmanuel Macron did not hide his desire to make the European Union an essential pole in terms of innovation. Far from wanting to make France a central point in terms of progress, he rather envisages the thing in a continental way. In an interview granted to The Big Whale, the Head of State insists on the need to develop new businesses while setting up an attractive system for them.

We will encourage the financing of innovative companies in their early stages by making our tax system more attractive, drawing inspiration from systems that have proven their worth in our neighbors such as the British EIS/SEIS. Then, continue to structure the French and European venture capital industry – both by launching a second “Tibi” initiative with institutional investors, but also by making sure to operationalize Scale-up commitments as quickly as possible Europe, which should enable the emergence of powerful European investment funds.

Emmanuel Macron during his interview for The Big Whale

With such an initiative, Emmanuel Macron continues the guideline he began to follow during his first term in an attempt to make France more attractive to companies. He had, for this, abolished the ISF and facilitated administrative tasks. The Macron Effect, although highly controversial, has nevertheless had the impact of making France the most attractive country in Europe for foreign investment.

Because yes, for Emmanuel Macron, the influence of France and the European Union comes through the recognition of foreign countries. It is also the Americans who have financed most of the 26 French unicorns, from Ledger to Sorare.

More recently, it was Binance which invested in the blockchain made in France by announcing a partnership with the start-up incubator Station F. A project which suggests many other initiatives in the future but which shakes the crypto French sphere, which is afraid to leave its place there. Nevertheless, the President fears absolutely no competition.

We are getting back into the global tech game and if we continue to have the right policies, we can win it. For one simple reason: we have the best talent. Our duty is to create the environment that encourages them to stay in Europe. […] The proof is that in 2021, for the first time, Europe has created more unicorns than China. I also want to mention the recent adoption of the Digital Markets Act under the French presidency: I believe it is the most important economic regulation text since the beginning of the 20th century.

Emmanuel Macron during his interview for The Big Whale

The Digital Markets Act, signed on March 25, 2021, aimed to regulate the influence of American and Chinese GAFAM in France. Targeted advertisements and communication between different companies had become the sinews of war for Europe; at that time, Emmanuel Macron wanted to cancel any possible monopoly (whether at the level of a company or within the Union) in order to offer all Member States the opportunity to compete with them. This state of mind will therefore continue to endure for the next five years, during which France will only be one player among others in the new European technology.

France must all the same arm itself for new technologies

But how can the country of human rights become a key player if it does not provide the right talent? Although France is well placed thanks to the many start-ups that flourish each year, it seems that the next generations are participating in the collective effort.

While National Education announced in 2018 that it would not ignore traditional education in favor of digital, it seems that it must now take the opposite course.

To give our society and our economy the weapons to master it, we must make a significant effort on training. If the French trust me, we will generalize the learning of code and digital uses from the 5th year, and we will train 400 to 500,000 additional developers and IT experts over the five-year period.

Emmanuel Macron during his interview for The Big Whale

Students will therefore become potential future players capable of fueling the competitiveness of France and the European Union in terms of new technologies. We still do not know what part digital technology will occupy in the initial curriculum of young French men and women, but it should be able to arouse the passions of dreamers who will be able to found future unicorns in the years to come.

It is therefore a half-hearted proposal that Emmanuel Macron is making there, since France will raise small soldiers intended to join the army of European companies in competition with the United States and China. Foreign investments, far from making France shine, could therefore above all be used to feed this system intended to make the European Union one of the world’s main technological monopolies.

Cryptocurrency finds its place in the European space

For several months, the crypto sphere has been suffering from the mistrust of the European Union. Emmanuel Macron himself was an actor in the latter before returning his jacket. While he had wanted to reduce the influence of cryptocurrencies in 2018, the Head of State now gives full place to cryptocurrencies. He also wants to develop web3, which he describes as an opportunity to be seized. While other countries are also working on it, Europe could be the first to win the race if the necessary efforts are made.

As for the metaverse and NFTs, they should become an integral part of our daily lives and our culture. Virtual worlds should be developed at the level of all Member States and allow communication, trade and working together. Non-fungible tokens, on the other hand, can be seen everywhere.

After the crisis linked to the coronavirus and during which the world of culture lost its main pillars without benefiting from the support of the government, the President intends to use the crypto sphere to restore his image.

The metaverse has immense potential in culture and entertainment through its applications in music, concerts, art exhibitions, etc. We cannot reflect our cultural policy outside of this revolution. I would like our main cultural establishments to develop a policy in terms of NFT, for example through the enhancement, dissemination and protection of twins or variations of their physical collections. Finally, France through its language, its heritage, its towns and villages, its monuments, must also exist in the metaverse. I hope that we can think about what a dematerialized museum of French history would be in this universe: what a great project to think about what a digital historiography of our collective history would be.

Emmanuel Macron during his interview for The Big Whale

As for Bitcoin, it should also be used for the project and see some additional regulations added to its use in France. Emmanuel Macron also wants to enforce the MiCa law when it is adopted, without however hampering the development of industry in the territory. Sorare, The Sandbox and Ledger should therefore have a bright future ahead of them, while digital currencies could finally find some recognition.

The Head of State, however, did not express his opinion on the banning of Bitcoin requested by Sweden, which could irreparably transform the sector in Europe.

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