L'avenir du yuan numérique dépendra du marché
Former NBK Deputy Governor Min Zhu spoke about the future of the digital yuan. Speaking at the World Economic Forum, he noted that only time will tell how the market will develop and what impact the digital yuan will have on it
According to him, the situation depends on how payment systems will interact with each other, how intensive the capital flows will be. It is also important to understand what agreements will be adopted between countries and Governments.
For example, Singapore will agree to accept the Chinese yuan, while China will officially recognize and use Singapore's digital currency. This will need to be registered officially - in form of an agreement so that subsequent financial settlements are carried out legally.
During the interview, Zhu was also asked if China plans to make the digital yuan an international currency, a kind of analogue of the dollar. To this, financier Jun Zhu replied that CBDCs are not a tool to compete with any fiat currency. This is not the purpose for which national cryptocurrencies are created.