Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Ex-PBoC Chief – Digital Yuan will Support Retail Transactions & Payments

Ex-PBoC Chief – Digital Yuan will Support Retail Transactions & Payments

Kelly Cromley by Kelly Cromley
Nov 27, 2019
in Market News, News
Reading Time: 2 mins read
0

Zhou Xiaochuan, the president of the Chinese Finance Association and ex-governor of People’s Bank of China, has opined that China’s central bank digital currency (CBDC) will support global payments and domestic retail transactions.

While speaking at the 2019 Caixin Hengqin Forum, he explained about the two different kinds of transactions (global settlements and retail dealings) that will be supported by the CBDC.

Zhou, a persuasive financial professional in China, signaled that the country will move forward in its plan to launch digital yuan tailor made to support payment and domestic retail transactions. He also stressed on the risks linked with CBDCs.

While highlighting that fiat money acts as a “symbol of national sovereignty,” Zhou opined that central bank, particularly those with “super sovereign power,” should be extremely cautious while deciding their course. He cautioned that a wrong decision could result in a credit crisis.

Notably, there were news reports that China had finished its work on CBDC project in August. However, the central bank clarified that it is not looking at any specific date for the launch of its digital currency. PBoC pointed out that it needs more time to study and evaluate the project’s pros and cons.

Late last month, an executive at China Center for International Economic Exchanges – regarded as research or policy institute – trusts that the PBoC will be the first major economy to unveil a digital currency in a successful manner.

Even though PBoC continues to move forward with its digital yuan project, it has increased its vigor in crushing cryptocurrency related businesses. While issuing yet another warning last week, PBoC stated that it is taking measures to shut down entities facilitating cryptocurrency trading, including Bitcoin (BTC).

The news had a negative impact on the price of Bitcoin, which hovers around $7,100 levels.

Previous Post

Red Cross Opts For Blockchain To Improve Kenyan Economy

Next Post

Bitcoin Dips Below $7,000 & Rebounds Sharply, Upbit Crypto Exchange Loses $50mln. to Hackers

Related Posts

baltimore-blockchain-adoption

Baltimore Puts Vacant Property Titles on Blockchain

by Kelly Cromley
Jun 25, 2025
0

Baltimore officials are turning to blockchain in an effort to simplify the way real-estate titles are transferred, particularly for the...

zigchain-unveils-mainnet-beta

ZIGChain Debuts Shariah-Compliant Blockchain for Tokenizing Real-World Assets

by Kelly Cromley
Jun 25, 2025
0

A Karachi-based team led by blockchain entrepreneur Abdul Rafay Gadit has unveiled ZIGChain, a base-level network designed from the ground...

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

by Mostafijur Rahman
Jun 24, 2025
0

In a bold move that signals the next phase of corporate crypto adoption, France-based semiconductor company Sequans Communications has announced...

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
0

Mantra, a Layer-1 blockchain focused on real-world assets (RWA), has confirmed that Lympid, a platform specializing in the issuance and...

guinevere-capital-partners-with-polemos

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025
0

Guinevere Capital, a well-established investment firm known for its focus on esports and gaming ventures, has confirmed a strategic partnership...

D'CENT Wallet

D’CENT Expands Web3 Reach with Taiko Partnership

by Kelly Cromley
Jun 24, 2025
0

D’CENT, a pioneer in biometric hardware wallets, has introduced Ethereum Layer-2 solution Taiko as the third featured partner in its...

Next Post
Bitcoin Dips Below $7,000 & Rebounds Sharply, Upbit Crypto Exchange Loses $50mln. to Hackers

Bitcoin Dips Below $7,000 & Rebounds Sharply, Upbit Crypto Exchange Loses $50mln. to Hackers

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

baltimore-blockchain-adoption
Market News

Baltimore Puts Vacant Property Titles on Blockchain

by Kelly Cromley
Jun 25, 2025
zigchain-unveils-mainnet-beta
Market News

ZIGChain Debuts Shariah-Compliant Blockchain for Tokenizing Real-World Assets

by Kelly Cromley
Jun 25, 2025
Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion
Binance Coin News

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

by Mostafijur Rahman
Jun 24, 2025
Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets
Market News

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
guinevere-capital-partners-with-polemos
Market News

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree