DCEP Should Replace All Currencies Flows Rather Than M0 Alone, Says Former Vice President of China’s Central Bank

Aug 4, 2020

In his latest essay, Wang Yongli, former vice president of China’s central bank PBOC, believes that the possible choices for the construction of a new digital currency system are as follows: “The digital currency platform built by central bank, which is open to the whole society (open so...

China Crypto Roundup (July 14 – 27): Cryptocurrency Property Rights Strengthened, PBoC Issues Standards for Blockchain Apps, Alibaba Launches AntChain

Jul 27, 2020

The top stories from the Chinese cryptocurrency sphere this past week includes: China’s Supreme Court recommends strengthening cryptocurrency property rights; China’s central bank issues new standards for blockchain fintech applications; Alibaba launched Antchain blockchain solution… C...

China’s Central Bank Issued Warnings to Cryptocurrency Transaction, Official Publications

Mar 23, 2020

China’s central bank released in a long post lashing out at the cryptocurrency trading platforms titled “3.15 Protection of Financial Consumption Rights and Interests” on March 22. The post displays three problems existing in the crypto exchanges by several pictures as follows: Cl...

How Will China’s Digital Currency Electronic Payment System Influence Financial Institution

Jan 15, 2020

China announced its own Digital Currency Electronic Payment system, or DCEP, that it had been researching for five years. Further updates on the project have made no attempt to hide the scale of China’s ambition. The article would like to predict the impact of DCEP on financial i...

China Warns Market Hype of CBDC as the Faker Runs Rampant

Nov 19, 2019

Recently, China’s central bank issued an announcement on the DCEP (China’s CBDC) again, pointing out that the trading of "DC / EP" or "DCEP" in the market is fake as the system is still in the process of research and testing. This is the second time China’s central bank ha...

China is Likely to Issue Central Bank Digital Currency First，Says Government Think Tank

Oct 29, 2019

An official from Chinese government think tank said China’s central bank is expected to issue its state-endorsed digital currency first, and he believed that Facebook’s Libra is doomed to fail. According to local report, Huang Qifan, deputy director of the Congressional Financial and ...

China’s Central Bank is Charging full Speed Ahead with its Digital Currency Plans

Sep 6, 2019

A dedicated team from the central bank’s Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters as a report revealed on Sep.5. China Central Bank’s Digital Currency (CBDC) has begun a "rest...

China’s Central Bank to Accelerate Development of Fiat Digital Currency

Aug 5, 2019

People's Bank of China (PBoC), the country's central bank, revealed that it would accelerate the pace of research and development of its fiat digital currency (DC/EP). During an August 2 video conference centering on the institute’s work focus for the second half of 2019, the PBoC...

Cryptos ‘Next Natural Step’ for Global Economy – Study

Jul 10, 2018

The eighth top university in the world according to QS current rankings has submitted that cryptocurrencies have the potential to become a mainstream form of payment within the next decade. In a new research released on Monday, the authors from the Imperial College London argue that cryptocu...

Xiao Lei: China’s PBoC is Well Prepared for Launching a State-backed Digital Currency

Jun 28, 2018

China is continuing its way of cryptocurrency and blockchain technology development. The Digital Currency Research Lab at People’s Bank of China (PBoC) has filed 41 patents application over the past 12 months. Xiao Lei, a famous financial analyst indicated that all of the recent f...