SHANGHAI :
Will the People's Bank of China Roll Out Its New Digital Currency?
Yicai Global
DATE:  Mar 13 2020
/ SOURCE:  yicai
Will the People's Bank of China Roll Out Its New Digital Currency? Will the People's Bank of China Roll Out Its New Digital Currency?

No, but a trial run is possible.

China is a world leader in cryptocurrency research and development. While no timetable has yet been given, it is likely that the PBOC's Digital Currency and Electronic Payment e-money will start trial runs in select Chinese cities.

The central bank's DC/EP currency is focused on addressing the risks of money-laundering and financing terrorism which arise from the anonymity of its transactions and the readiness with which it can be counterfeited, said Mu Changchun, head of the PBOC's digital currency research institute.

Many people in China prefer to use paper money and coins because it gives anonymity in transactions. Existing electronic means of payment, such as mobile money and online bank transfers, are all traceable. DC/EP will strive to be a portable version of electronic cash, which protects the identity of its user.

Follow Yicai Global on
Keywords:   Prediction 2020,PBOC,Digital Currency