news

bitcoin

1 X bitcoin bitcoin =

Tuesday

27 July 2021

China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced – Bitcoin News

China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced – Bitcoin News


smart summary beta

China’s central bank has recently allowed the digital currency working group to publish a white paper that details the CBDC’s current progress.

The white paper titled “Progress of Research & Development of E-CNY in China” notes that over the course of history, “the form of currency has evolved.” The PBOC’s digital currency working group stresses that the digital yuan often referred to as the “e-CNY” is no different than the physical form of money used by the Chinese today.

The paper further details that in addition to the 20 million digital yuan wallets, 3.5 business wallets have also been deployed.

The white paper explains that the digital yuan is “non-interest accrual,” which means it is simply a substitute for the monetary supply that “carries and pays no interest.” The paper also touches upon anonymity and privacy and highlights that the network has some elements of privacy, but it also guards against illegal financial activities?

What do you think about the e-CNY and the PBOC’s recently published white paper.

Goto Full Article

bitcoin bitcoin price

$37766.00

24h

Live Average

bitcoin

News Article Sentiment

negative

Score (-0.1)

Article Metadata

author

site

bitcoin.com
Market data feeds provided by cryptocompare.com
bitsmart 2021