Forwarded from 📡Guardians of Hong Kong
Not Binding to a Bank Account, China will Push Digital Currency in the Greater Bay Area, Aim to Replace Notes and Coins.
In July, Lithuania, an Eastern European country, was the first in the world having a digital currency issued by Central Bank. Now China's Ministry of Commerce is preparing to launch a test on digital Renminbi. It announced the proposal of "Overall Plan for Comprehensively Deepening the Innovative Development of Trade in Services" yesterday, which stated several eligible regions across the country to become digital RMB test sites.
These test sites include the Jing-Jin-Ji region, Yangtze River Delta region, Midwest China, and the Greater Bay Area (Pearl River Delta). The People's Bank of China (PBoC) will formulate policies to support the development of the digital currency, then will promote in Shenzhen, Chengdu, Suzhou and the Xiongan New Area, as well as in the winter Olympic venues, before expanding to other regions, based on the results in these pilot areas. The PBoC has collaborated with multiple internet companies, such as DiDi and Meituan Dianping, to study the application of digital currency.
Fan Yifei, Vice Governor of the PBoC, said that China's digital Renminbi was the effort to replace banknotes and coins, and to maintain the attributes and key features of banknotes while satisfying the need for portability and anonymity. Unlike WeChat and Alipay, which are popular in China, digital RMB does not require any bank account or bank card to be tied for payment.
At the video conference held by the PBoC on August 3, it mentioned that the testing of the digital currency had started smoothly, and would actively promote its research and development (R&D) in the second half of this year. Although the digital RMB was being tested on a pilot basis, the Governor of the PBoC, Yi Gang, stressed that this was just part of the R&D process. It does not mean that China officially launch the digital RMB, nor there is a timetable for its launch. He believed that the research, development and application of legal tender could meet the public's demand for legal tender in the digital economy and enhance the convenience, security and anti-counterfeit standard of retail payments.
#Renminbi #DigitalCurrency #PBoC
Source: Unwire #Aug15
https://unwire.hk/2020/08/15/digital-rmb-trial-confirmed/life-tech/
In July, Lithuania, an Eastern European country, was the first in the world having a digital currency issued by Central Bank. Now China's Ministry of Commerce is preparing to launch a test on digital Renminbi. It announced the proposal of "Overall Plan for Comprehensively Deepening the Innovative Development of Trade in Services" yesterday, which stated several eligible regions across the country to become digital RMB test sites.
These test sites include the Jing-Jin-Ji region, Yangtze River Delta region, Midwest China, and the Greater Bay Area (Pearl River Delta). The People's Bank of China (PBoC) will formulate policies to support the development of the digital currency, then will promote in Shenzhen, Chengdu, Suzhou and the Xiongan New Area, as well as in the winter Olympic venues, before expanding to other regions, based on the results in these pilot areas. The PBoC has collaborated with multiple internet companies, such as DiDi and Meituan Dianping, to study the application of digital currency.
Fan Yifei, Vice Governor of the PBoC, said that China's digital Renminbi was the effort to replace banknotes and coins, and to maintain the attributes and key features of banknotes while satisfying the need for portability and anonymity. Unlike WeChat and Alipay, which are popular in China, digital RMB does not require any bank account or bank card to be tied for payment.
At the video conference held by the PBoC on August 3, it mentioned that the testing of the digital currency had started smoothly, and would actively promote its research and development (R&D) in the second half of this year. Although the digital RMB was being tested on a pilot basis, the Governor of the PBoC, Yi Gang, stressed that this was just part of the R&D process. It does not mean that China officially launch the digital RMB, nor there is a timetable for its launch. He believed that the research, development and application of legal tender could meet the public's demand for legal tender in the digital economy and enhance the convenience, security and anti-counterfeit standard of retail payments.
#Renminbi #DigitalCurrency #PBoC
Source: Unwire #Aug15
https://unwire.hk/2020/08/15/digital-rmb-trial-confirmed/life-tech/
Unwire.hk
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東歐國家立陶宛於 7 月成為全球首個,由中央銀行發行數碼貨幣的國家,如今中國商務部亦準備開展數碼人民幣測試。中國商務部昨日公佈《全面深化服務貿易創新發展試點總體方案》,當中提到在全國多個符合條件的地區將會成為數碼人民幣試點。