CBDC Development Strategy, Continued by People’s Bank of China
On April 3 a teleconference held by the People’s Bank of China in Beijing, China. The important point discussed in the conference includes the institution’s continued research and development of a central bank digital currency.
Bank’s top priority is CBDC development
End of June 2019 results The achievement of the central bank with fiat currency, gold, silver, and securities concluded by the meeting. Administrators evaluate the bank’s challenges in-depth, admitting that their 2020 aim is the ongoing research and development of a central bank digital currency, stating:
“The top priority is to enhance the top-level system design, unswervingly advance the research and development of central bank digital currency, systematically promote the reform of cash issuance and return systems, and accelerate the promotion of banknote processing business, issuance of bank guards and issuance funds.”
China Stimulates its CBDC strategy
Lastly reported by Cointelegraph, the People’s Bank of China has finalized the main objective of development for a digital yuan. Effected China to issue its CBDC.
