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The People’s Bank of China Opens Digital Currency Research Institute

The People’s Bank of China Opens Digital Currency Research Institute

Yicai Global

Date: Wed, 06/28/2017 - 19:37 / source:Yicai
The People’s Bank of China Opens Digital Currency Research Institute
The People’s Bank of China Opens Digital Currency Research Institute

(Yicai Global) June 28 -- As China emerges as one of the world’s leading markets for trading digital currency Bitcoin. The People’s Bank of China (PBOC) has quietly set up a digital currency research institute.

The institute is housed in an office building in central Beijing alongside subsidiaries of China Banknote Printing and Minting Corp., which is owned by the central bank, reported Cnstock.com today. ‘The People’s Bank of China Digital Currency Research Institute’ has already been signposted on the location, an employee said.

Per information released earlier, the institute is a research arm of the central bank, which will focus on digital currency technologies and applications. The PBOC held its inaugural seminar on digital currency early last year and made clear that issuing digital currency is among its strategic goals. Its opening a digital currency institute has already attracted worldwide attention.

Yao Qian, former deputy director of the PBOC’s science department, will serve as the head of the institute, with Di Gang, information technology director of the Silk Road Fund, appointed as its deputy head, the report said.

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Keywords: Fintech, digital currency, pboc, central bank, institute, Bitcoin, TECHNOLOGY