According to the NBK official, China does not plan to declare war in cash when issuing its own digital currency, and the state cryptocurrency will provide users with “controlled anonymity”.
As reported
Head of the Institute for Digital Currency Research at the People’s Bank of China (NBK) Mu Changchun, the Central Bank continues to plan that the state cryptocurrency will complement the traditional yuan.
“We know that the requirement of the general public is to maintain anonymity using paper money and coins … we will give people who need it the opportunity to conduct transactions anonymously,” Mu said. “But at the same time, we will maintain a balance between“ controlled anonymity ”and the fight against money laundering, countering the financing of terrorism, as well as tax issues, online gambling and any electronic criminal activity. This is a balance that we must observe, and this is our goal. ”
Mu claims that digital currency does not imply greater control over user data, despite the ease of comparing such data with digital transactions.
“We do not seek complete control over personal information,” he added.
Mu said last week that digital yuan holders would not receive interest. In August, the official noted that the digital currency of the People’s Bank of China was ready to be launched, and in September announced that it would be similar in architecture to Facebook’s stable Libra.
Recall also that this month the Institute of Digital Currencies of the People’s Bank of China and Huawei entered into a partnership agreement to conduct research in the field of financial technology.
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