A leading figure in the Chinese financial establishment has revealed that the People’s Bank of China (PBOC) has already finished development of the backend architecture for its Central Bank Digital Currency (CBDC) (Digital Currency/ Electronic Payments).
“The establishment of the backend architecture for DC/EP is already complete,” said Wang Zhongmin (王忠民), formerly the vice-chair of the National Council for Social Security Fund, on 20 June at the 2020 Fintech Forum held by the Tencent Fintech Research Institute and the Fintech 50 Forum.
Continue read: http://www.chinabankingnews.com/2020/06/22/chinese-central-bank-has-completed-backend-architecture-for-statutory-digital-currency/
