Cashless: China's Digital Currency Revolution by Richard Turrin

Author:Richard Turrin [Turrin, Richard]
Language: eng
Format: epub
Publisher: Authority Publishing
Published: 2021-04-08T00:00:00+00:00

13

CBDC in International Use: Attracting Users with

“The Virtuous Cycle”

China on issuing its CBDC:

“We must build an independent and high-quality financial infrastructure … quicken the pace of research and development of the central bank digital currency....”

Chen Yulu, deputy governor of the PBOC

The West on issuing a CBDC:

“We do think it’s more important to get it right than to be first, and getting it right means that we not only look at the potential benefits of a CBDC but also the potential risks.”

Jerome Powell, US Federal Reserve Chair

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