PBoC Governor Says ‘Successful’ Digital Yuan Trials Have Transacted $299M
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.
PBOC
Zhou Xiaochuan: The Father of the Digital Yuan
Dec 8, 2020
“The PBOC that is not criticized by the public will not withstand the test of history," the current head of the central bank says. Zhou Xiaochuan's legacy – the digital yuan – was sidelined, until it became necessary.
What Is a CBDC?
Dec 4, 2020
A CBDC is a central bank digital currency, a new type of money governments are experimenting with that often has blockchain at its core.
"We are not like libra and we don’t have an ambition to replace existing currencies,” said a former governor of the People's Bank of China.
A lottery in Suzhou will additionally trial the offline feature of the digital yuan, per a Monday report.
Ant’s suspended IPO exposes potential financial risks posed by the fintech giant’s digital payment platform Alipay. The digital yuan may be China’s attempt at a solution.
PBOC
