Tag: yi gang

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China’s digital yuan nears $250B transaction volume: Central bank governor

July 20, 2023

While the adoption and use cases of China’s central bank digital currency are expanding, the digital yuan still only represents 0.16% of China’s monetary supply. Nearly $250 billion worth of transactions have taken place using China’s digital yuan in the one-and-a-half years since the start of its pilot, the country’s central bank governor has claimed.…
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Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process

November 2, 2022

According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will be limited to managing the digital currency’s “operating system” while the handling of personal…
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