The head of the Central Bank of China: the emergence of a national digital currency is inevitable

The head of the Central Bank of China: the emergence of a national digital currency is inevitable

The head of the people’s Bank of China Governor Zhou Xiaochuan said that the advent of digital currency supported by a Central Bank was “inevitable.”

However, it is unclear whether this digital currency or cryptocurrency for its development will be used other technology.

According to him, such a digital currency must comply with the requirements of China. One such requirement is that any digital currency needs to be “convenient, fast and inexpensive for retail use as well as safe and confidential.”

Zhou is not officially called any digital currency product, which could serve as the basis for a national cryptocurrency, but hinted that the technology of distributed registries could be used to create it.

He also said that any digital currency supported by a Central Bank should be protected from having to turn in a speculative product.

The emphasis should be placed on the real economy, any new digital currency also has to be consistent with the current financial situation.

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