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China’s e-CNY efforts on war footing, but here are the issues that need solving
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China has taken several steps to successfully implement its digital Yuan, despite some setbacks in the past. Now, the Beijing Winter Olympics is set to take center stage in February. According to Fan Yifei, a Deputy Governor at the People’s Bank of China (PBOC), infrastructure construction for e-CNY use during the Winter Olympics has entered the “sprint stage.”
Di Gang, Deputy Director of the Digital Currency Institute of PBoC, expressed the same sentiment in a recent blog. As per the official, the pilot work of digital RMB at the Beijing Winter Olympics has been seeing steady and orderly progress. The official in charge of the CBDC of the PBoC explained the four applications of blockchain in China’s CBDC. He also emphasized the six
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