01-11-2020, 11:44 AM
The development of a digital yuan, or DECP, has taken a great leap forward, according to the People’s Bank of China, the nation’s central bank.
In a statement (in Chinese) Thursday, the bank said the “processes of top-level design, setting industry standards, developing potential functions and integration testing,” were “almost complete.”
The bank said it has been working on the expected two-tiered system that would offer “controllable” anonymity and the functionality to replace paper cash.
In a statement (in Chinese) Thursday, the bank said the “processes of top-level design, setting industry standards, developing potential functions and integration testing,” were “almost complete.”
The bank said it has been working on the expected two-tiered system that would offer “controllable” anonymity and the functionality to replace paper cash.