The Digital Yuan and One Belt, One Road


The Digital Yuan and One Belt, One Road

China is getting more and more excited about the potential of the digital yuan and its role in the Belt-Road Initiative, also known as the BRI.

A Vice President of the Central University of Finance and Economics at one of China’s leading universities spoke about the e-CNY’s role in BRI financial cooperation this week.

According to the Chinese Securities Journal, a paper published by the People’s Bank of China, a bunch of scholars have been talking about the role of thedigital yuan in the new Silk Road/BRI .

They include projects such as cross-border trade with interoperable CBDCs.

It turns out that even Russia has started talking about doing business with other central banks using the digital currency.

The PBoC of course claims that it wants to use the coin to boost domestic financial inclusivity and provide non-cash alternatives for its unbanked population, but other countries may also be able to make use of the coin for their

#shorts #techshorts #technews #tech #technology #China #BRI #cross-border use

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