Former Chief Executive Officer of the Central Bank of China Zhōu Xiǎochuān told what the national cryptocurrency of the PRC will be used for, explaining cryptoyuan should provoke an increase in domestic payments, as well as retail.
The former head of the Central Bank of China believes that there are only two main areas for using digital national currency:
- simplification of international transfers;
- electronic payments for domestic retail.
In his opinion, the state will follow precisely the second one.
Recall that information on the soon launch of the country’s national digital currency appeared on the Internet just recently, but it turned out to be fake and the Central Bank of China denied it.