China’s Central Bank Completes Top-Later Design and Joint Tests of Planned CBDC
Ana Alexandre's original article for cointelegraph.com reduced by 79%
The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency. As domestic news outlet Sina reported on Jan. 10, People's Bank of China accomplished the top-layer design of the planned digital yuan, developed relevant standards, carried out research and development and a joint testing of the CBDC.The bank set forth the latest developments in a dedicated article, also highlighting plans to improve cybersecurity of the financial industry network and formulate rules for the accreditation of critical information infrastructure.
Within the tests, China's CBDC was expected to go beyond the central bank system and enter service scenarios such as transportation, education and medical treatment, among others.
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