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Digital yuan will combat US 'dollarization' says former PBoC governor

On Oct 29, 2020
@Cointelegraph shared
China’s digital currency approach will differ considerably from the G7 nations, according to Zhou Xiaochuan. https://t.co/17hjcqmXKf
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Officials behind China's digital yuan are reportedly more focused on using it to expand retail payments domestically and preventing the dollarization of the country.

cointelegraph.com
On Oct 29, 2020
@Cointelegraph shared
China’s digital currency approach will differ considerably from the G7 nations, according to Zhou Xiaochuan. https://t.co/17hjcqmXKf
Open

Digital yuan will combat US 'dollarization' says former PBoC governor

Digital yuan will combat US 'dollarization' says former PBoC governor

Officials behind China's digital yuan are reportedly more focused on using it to expand retail payments domestically and preventing the dollarization of the country.

Bank of Canada says global approach needed on digital currencies, working with G7

Bank of Canada says global approach needed on digital currencies, working with G7

The Bank of Canada is working with its G7 partners on its plans for a digital currency, Governor Tiff Macklem said in an interview, adding a "globally coordinated" approach was needed to ...

Ex-PBoC Governor Urges China to Join Global Conversation on Libra

Ex-PBoC Governor Urges China to Join Global Conversation on Libra

A former senior official with the People’s Bank of China (PBoC) believes the nation should join a global conversation about regulating stablecoins, with a particular focus on the Libra ...

The Race Is On To Become the World's Digital Reserve Currency. Who Will Win?

The Race Is On To Become the World's Digital Reserve Currency. Who Will Win?

Central Banks are excited by Bitcoin's dramatic innovation, its blockchain technology and the potential for Central Bank Digital Currencies (CBDC). However, they are also cautious as ...

Digital currency and the new cold war

Digital currency and the new cold war

Evolving international monetary and financial system

US-China Trade War And Its Effect On Cryptocurrencies

US-China Trade War And Its Effect On Cryptocurrencies

The People’s Bank of China (PBoC), the country’s central bank, has announced that it is planning to launch a central bank digital currency (CBDC), inspired in part by ...

US-China Trade War and Its Effect on Cryptocurrencies

US-China Trade War and Its Effect on Cryptocurrencies

China’s central bank relies on centralization and suppression of open technologies such as blockchain, with its next step being to issue a national stablecoin.

How central bank digital currencies will take over the world

How central bank digital currencies will take over the world

First central banks ignored cryptocurrencies, then they mocked them, next they fought them and now they are building their own; before long central bank digital currencies will be in use, ...

China’s Central Bank Transacts $160 Million in Digital Yuan

China’s Central Bank Transacts $160 Million in Digital Yuan

The People’s Bank of China has already transferred 1.1 billion digital yuan as part of the CBDC pilot, says the bank’s deputy governor.

What China’s digital currency means for the world

What China’s digital currency means for the world

Well, is the China sovereign e-currency really happening?Just last week, reports suggested that four commercial banks in China began large-scale testing of the much-hyped digital currency. ...

China’s Crypto Awakening or: How I Learned to Stop Worrying and Love the Blockchain

China’s Crypto Awakening or: How I Learned to Stop Worrying and Love the Blockchain

Just a year ago at the beginning of 2019, digital currency regulation and best practices around the world were just beginning to be developed in earnest and fiat-backed stable coins were ...

China’s Cryptocurrency Plan Has a Powerful Partner: Big Brother

China’s Cryptocurrency Plan Has a Powerful Partner: Big Brother

Facebook’s Libra project led Beijing to accelerate its efforts. The government could soon know a lot more about how people are spending.

China’s digital currency could be a response to Libra

China’s digital currency could be a response to Libra

Earlier this month, a senior official of the People Bank of China (PBoC) announced that the country was ready to launch its digital currency. The announcement was made at a China Finance 40 ...

Former PBoC Governor: Digital Currency to Be Used for Retail and Remittance

Former PBoC Governor: Digital Currency to Be Used for Retail and Remittance

Zhou Xiaochuan believes that China will continue to follow move forward in both the blockchain and digital currency spaces.

Digital yuan test joined by US giants

Digital yuan test joined by US giants

McDonald’s, Subway and Starbucks will take part alongside 16 local businesses

A Comparison of China’s Central Bank Digital Currency DCEP with Sweden’s e-krona

A Comparison of China’s Central Bank Digital Currency DCEP with Sweden’s e-krona

Central banks are looking at creating their own digital currencies as a countermeasure to the rise of cryptocurrencies issued by the private sectors. Days ago on February 20, Sweden’s ...

Why China’s Rushing to Mint Its Own Digital Currency

Why China’s Rushing to Mint Its Own Digital Currency

(Bloomberg) -- The People’s Bank of China is poised to become the first major central bank to issue a digital version of its currency, the yuan, seeking to keep up with -- and control of -- ...

Welcome to the era of stablecoins

Welcome to the era of stablecoins

Thanks in no small part to Facebook’s controversial Libra project, stablecoins have attained a great...

Bitcoin slumps below $7,000 mark for first time in 6 months

Bitcoin slumps below $7,000 mark for first time in 6 months

The price of bitcoin was last around $6,880, its lowest level since May 17, according to Coindesk, after slumping about 24% over the past month.

84 PBOC Digital Currency Patents Show the Extent of China's Digital Yuan

84 PBOC Digital Currency Patents Show the Extent of China's Digital Yuan

The People's Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank's plans which include integrating ...

84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan

84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan

The People’s Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank’s plans which include integrating ...