People’s Bank Of China Plans to Launch Its Own Digital Currency
The Chinese national bank, People’s Bank of China (PBOC) issued a statement on its official website on Wednesday, 20th January 2016 stating its intent to launch its own digital currency. PBOC held a meeting to discuss the possibility of creating its own digital currency. The meeting was attended by important dignitaries including the governor of PBOC, Zhou Xiaochuan, deputy governor, Fan Yifei, and currency experts from Deloitte and Citibank among other currency experts. The official statement issued by the PBOC read that the meeting held to explore the possibility of issuing digital....
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The People’s Bank of China (PBoC), the country's central bank, is moving toward the launch of its own digital currency. The PBoC said in a 20th January release that it had held a meeting discussing the possibility in Beijing. Attendees included central bank governor Zhou Xiaochuan and deputy governor Fan Yifei, as well as a group of “relevant research institutions, major financial institutions and advisory bodies of experts”. Notably, the central bank put together a team dedicated to digital currency research in 2014 – the work of which played into the Beijing meeting. In addition, the....
The People’s Bank of China (PBOC) is studying the prospect of issuing its own digital currency and is aiming to roll out a product as soon as possible, Bloomberg Business reports. PBOC, China’s central bank, is persuaded that a state-backed digital currency could reduce capital outflow, money laundering and tax evasion, make economic activity more transparent and improve the efficiency of global transactions. The creation of China’s state digital currency was discussed at a meeting in Beijing, attended by digital fintech experts and high level authorities including PBOC Governor Zhou....