China Central Bank Chief Speaks Digital Currency & Blockchain Tech
The head of China’s central bank, the People’s bank of China (PBOC) has provided more details about the bank’s significant recent revelation. Less than a month ago, the PBOC announced that it will try to launch its own digital currency “as soon as possible.” In a wide-ranging interview with Caixin Weekly, PBOC governor Zhou XIaochuan provided more insight into the PBOC’s recent announcement of issuing its own yet-unnamed digital currency. The governor notes that China’s digital currency will be fundamentally based around central banking system principles. He opined that the central bank....
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The head of the People’s Bank of China (PBOC) opened up about its proposed digital currency initiative in a new interview with Caixin Weekly today, suggesting that the Chinese central bank is considering options that do not use blockchain technologies in its development. Speaking to the news source, governor Zhou Xiaochuan said that the PBOC is considering mobile payments, cloud computation, secure chip and blockchain tech as means to create and operate an electronic cash network. However, Xiaochuan suggested that there's no indication of what the finished product will look like, going on....
China's central bank has reportedly tested a blockchain-based digital currency. According to a report by Caixin yesterday, the People's Bank of China (PBOC) completed a trial on 15th December in which it demoed how transactions and settlements might take place via a custom distributed ledger system. The test was reportedly held in conjunction with major domestic commercial banks including Industrial and Commercial Bank of China (ICBC), Bank of China and WeBank. The report reads: "The bank suggested the digital currency would not only reduce circulation costs but also increase....
Distributed ledger tech could "reshape" banking, Bank of England chief Mark Carney said today. The G-20 international organization is hosting a conference on finance and digitalization this week, with blockchain and distributed ledgers forming one of the event’s central themes. The event is being hosted in Germany, in the city of Wiesbaden. Carney, who also acts as chair of the Financial Stability Board – the group of central banks and finance ministers that is conducting its own blockchain research – touched on both the UK central bank’s work with the tech as well as some of the....
China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digital yuan and more than 8 million merchants now accept e-CNY.
China’s Central Bank Digital Currency Growing in Adoption
Zou Lan, head of financial markets at the People’s Bank of China (PBOC), provided an update on the country’s central bank digital currency (CBDC), the digital yuan, at a press....
The People’s Bank of China (PBOC) Governor Zhou Xiaochuan was just recently interviewed and had quite a bit to say concerning digital currency. The central bank official spoke of capital outflow, Bitcoin, and centralized digital yuan. Xiaochuan expressed a lot of knowledge on the subject, and he says the PBOC has been researching digital currency for quite some time now. Xiaochuan states in the written transcript: The governor of the bank, Xiaochuan gave strong opinions regarding the subject of permissionless and permissioned digital currencies. He believes the central bank adds a....