HTTP/2 200 date: Tue, 21 Apr 2020 21:16:10 GMT content-type: text/html; charset=UTF-8 set-cookie: __cfduid=d8f5c845c9fb24309737c55ed44126d9e1587503769; expires=Thu, 21-May-20 21:16:09 GMT; path=/; domain=.nfcw.com; HttpOnly; SameSite=Lax; Secure link: ; rel="https://api.w.org/", ; rel=shortlink cache-provider: CLOUDWAYS-CACHE-DC last-modified: Tue, 21 Apr 2020 20:55:57 GMT vary: Accept-Encoding age: 1213 x-cache: HIT cf-cache-status: DYNAMIC expect-ct: max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct" server: cloudflare cf-ray: 587a1fe21ac3ea5e-IAD alt-svc: h3-27=":443"; ma=86400, h3-25=":443"; ma=86400, h3-24=":443"; ma=86400, h3-23=":443"; ma=86400 cf-request-id: 02403241500000ea5ec0237200000001 China's central bank confirms plans for digital currency pilots • NFCW inc NFC World
The goal of the trials will be “to continuously optimise and Improve the function” of the digital currency, the PBoC says[4].
“According to the relevant person in charge of the People’s Bank Digital Currency Research Institute, the current research and development of digital RMB is steadily advancing,” it adds.
The pilot tests do not, however, mean that the digital currency is ready to be officially issued, the central bank emphasises.
“The new DC/EP currency is a digital currency and electronic payment tool,” Mu Changchun, director of the PBoC’s Digital Currency Research Institute, revealed in September[5].
“Its functional attributes are exactly the same as paper money, but it is just a digital form. We define it as a digital payment tool with value characteristics.”
Transactions made using the digital currency will maintain the anonymity and main value characteristics of cash, he explained, and will not be tied to a bank account.
It will also be distributed in the same way as bank notes are distributed today.
“Commercial banks
