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HomeNewsFormer PBOC Official Declares Use of Digital Yuan Low!

Former PBOC Official Declares Use of Digital Yuan Low!


The People’s Bank of China, the country’s central bank ( PBOC) a former official, digital yuanfound low usage.

While the activity in the cryptocurrency market continues, the use of blockchain technology is on the agenda of countries. Many countries use central bank digital currency ( CBDC ) spends a lot of work for. still in its infancy CBDC It is aimed to use them actively in the coming years. Finally Chinese focused on increasing the use of the digital yuan. However People’s Bank of ChinaA former official of the current digital yuanreported low usage.

Former PBOC Official Unsatisfied with Use of Digital Yuan!

Chinesewith a central bank People’s Bank of ChinaFormer official of (PBOC) Xie Pingstated that he was disappointed that the digital yuan was used so little.

PBOC’also director of research pingat a university conference Chinese‘of CBDCHe criticizes about. ping, 14 billionexceeding dollar trading volume digital yuanargued that the results were not ideal for

has a large population Chinese‘also 14 billiondigital yuan reaching dollar volume, pingAccording to , it could not provide a high level of effectiveness. PBOCAccording to ‘s report at the beginning of the year, only 261 millionuser digital yuanHe had his wallet.

Finally pingHe mentioned that people are used to traditional systems and it will be difficult to change.


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