PBoC governor says digital yuan to be more privacy-enhanced than payment apps
Making the e-CNY more privacy-orientated aside, the PBoC already has ambitions to bring the CBDC onto the world stage. During a virtual video session at the Bank of Finland Institute for Emerging Economies' 30th Anniversary Conference, People's Bank of China governor Gang Yi discussed recent developments regarding the country's central bank digital currency, or CBDC, known as the digital yuan (e-CNY). Gang specifically addressed the issue of privacy surrounding the Digital Yuan in the following statement, as translated by Cointelegraph:We are taking a high degree of focus on issues....
Related News
The governor of the People's Bank of China praised recent tests of the digital yuan at the Hong Kong Fintech Week conference on Monday.
A former PBoC official says that his country has taken a cautious approach with the digital yuan. The Chinese government is not seeking to replace existing fiat currencies with its own digital currency, according to a former governor of the People’s Bank of China, or PBoC.Zhou Xiaochuan, the president of the Chinese Finance Association and former PBoC governor, claimed that China’s digital yuan is not intended to replace global fiat currencies like the United States dollar and the euro, the South China Morning Post reported on Dec. 14.Also known as a digital currency electronic payment, or....
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....
China’s digital yuan pilot program is picking up speed. The governor of China’s central bank has given more details about the country's ongoing digital currency pilot. Yi Gang, governor of the People’s Bank of China, said that the digital yuan pilots have processed over four million transactions to date, totaling more than 2 billion yuan ($299 million). The official delivered his latest remarks at the Hong Kong Fintech Week conference on Nov. 2, Bloomberg reported.According to Yi, the pilots have been going smoothly so far, having rolled out for extended testing in four cities. Growth in....
The working group involved with the research and development of the digital yuan for the People’s Bank of China (PBOC) has published a paper describing the digital currency’s progress. The PBOC initiated a task force dedicated to the creation of a digital yuan in 2014, and the recently published document is the project’s first white paper released in seven years. China’s Digital Yuan Is No Different Than Physical RMB After the creation of Bitcoin and a few years after the cryptocurrency economy started getting recognized, the PBOC was one of the first central banks....