A researcher with the Bank of China unveils the first information about the test of the Yuan digital

April 26, 2020 by Antoine

Recently tested in the cities of Shenzhen, Suzhou, Xiongan Zone Chengdu and the next site of the winter olympic Games, the Yuan digital of the Bank of China has raised many questions from the Chinese. A representative of the bank has thus provided clarification to the project by hovering over the essential questions revolving around the token (token), in regards to its impact on the finance traditional as well as the economy of the country.

No impact on the functioning of the economy and trade

At A time when the government is a harsh censorship on the business of crypto-currencies, the operations of the track CBDC (Central Bank Digital Currency) by the chinese central bank has in particular aroused the curiosity of observers.
At the end of the test secret in a few industrial regions, and key economic of the country, a representative of the financial institution was expressed on the general operation of the future Yuan national. In this perspective, it has raised the possible interference of the digital currency on trade and the economy, stating :

“The test current of the yuan digital will not affect the commercial operation of the institutions concerned, or the system of emission and circulation of the RMB, the financial market and the social economy outside of the test environment “.

Yuan digital, how does it work ?

If the crypto-currency private remains a science, a mystery to many Chinese, the introduction and operation of a digital currency national are even more so, knowing that it affects not only public affairs, but also on the everyday lives of exchange for the citizens.
In this perspective, the researcher with the bank explains that it is a currency managed by the State, on this, the financial institution main of the country will have the responsibility of manage its flow. In addition, it is a token backed by real currency, so that its stability is guaranteed. Finally, the Yuan, the national is not linked to any bank account and thus remains to be the gap of control systems traditional.
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