The People's Bank of China has announced that it will begin multilateral joint research with central banks such as Thailand on international payments using the electronic fiat currency "digital currency."
It seems that there is an aim to lead the creation of an international system for digital currencies.
The People's Bank of China, the central bank of China, announced on the 24th that it will start joint research on international payments using digital currencies with Thailand, the central bank of the UAE = United Arab Emirates, and the Hong Kong Monetary Authority.
The People's Bank of China is conducting demonstration experiments in various parts of the country to develop the electronic legal tender "Digital RMB" that can be used in the same way as banknotes and coins.
In the joint research, we would like to improve the convenience of foreign exchange trading associated with trade by researching the mechanism of simultaneous settlement using different digital currencies and the blockchain technology that stores transaction records in a distributed manner on the Internet. I will.
Regarding digital currencies, the Bank of Japan has stated that it has no plans to issue them at this time, but will start proof-of-concept tests to confirm its functions from this spring, and central banks in each country are also conducting research.
Under these circumstances, the People's Bank of China seems to have the aim of leading the creation of an international system for digital currencies by promoting multilateral joint research.