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Deputy Governor of the People's Bank of China: In the future, the digital renminbi will have the functions of a currency's value scale, value storage, and cross-border payment.
BlockBeats News, December 29, Deputy Governor of the People's Bank of China, Lui Lei, stated in an article that the future digital currency is supported by the central bank, with a focus on providing technical support, ensuring implementation of regulation, possessing the liability attributes of commercial banks, being based on accounts, compatible with the characteristics of distributed ledger technology, issued and circulated within the financial system as a modern digital payment and circulation tool, possessing the functions of a currency value scale, value storage, and cross-border payment. Looking ahead, the business and technical model of the digital currency will adhere to the fundamental starting point of meeting the needs of the real economy. It will adopt a principle of inclusiveness and prudent selection regarding the development direction of account-based and value-based digital currencies, promoting the digital currency to meet the needs of different scenarios and different types of entities. (Jinse)
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