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What does the People’s Bank of China’s blockchain primarily store? (Collaboration between the central bank and private blockchain digital wallet)

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The People\’s Bank of China\’s blockchain primarily stores what, according to Sina

What does the Peoples Bank of Chinas blockchain primarily store? (Collaboration between the central bank and private blockchain digital wallet)

The People’s Bank of China’s blockchain primarily stores what, according to Sina Technology News.

According to an announcement from the Information Center of the Central Bank, the People’s Bank of China will focus on “financial business data protection” and promote the development of distributed business models while ensuring safety. Additionally, it will establish a digital asset trading platform to achieve a secure and trustworthy mechanism for cross-border RMB fund transfers and regulatory systems. Moreover, the People’s Bank of China is actively exploring the construction of a new electronic evidence system based on consortium chain technology.

Collaboration between the People’s Bank of China and private blockchain digital wallet

According to China News Network, the People’s Bank of China has established a joint working group with private blockchain digital wallets. Fan Yifei, Deputy Director of the Financial Market Department of the Central Bank, introduced, “The People’s Bank has conducted in-depth research and developed implementation plans on exploring the internationalization process of the RMB in collaboration with the private sectors and corporate institutions jointly established by China and Africa.” The project is led by the People’s Bank of China and aims to provide a trustworthy data foundation for central banks through “shared data, security technology, etc.” It also provides a new payment tool to ensure anonymous fund transfers and protect against hacker invasions. “We hope to use this strategic opportunity to accelerate the process of RMB globalization,” he pointed out.

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