Former VP of IMF: Digital Currency will be the High Ground of Future Currency Market Competition

Abstract : The development of digital currency will be an important field and channel for internationalization of RMB in the future.

ChainDD
ChainDD

Jun 19

The 12th Lujiazui Forum is held in Shanghai today. Zhu Min, the former vice president of the International Monetary Fund (IMF) and the president of the National Finance Institute of Tsinghua University, attended and delivered a speech.

Zhu Min said that the digital currency would be the high ground of future currency market competition. 

He said, "as the world's second largest economy and the world's second largest financial market, China has a huge market for e-commerce and electronic circulation industries, and the development and application of digital currency can be very important." 

Therefore, the development of digital currency will be an important field and channel for internationalization of RMB in the future.

In addition, he talked about that Libra has abandoned the plan of creating a public chain, and decided to strengthen cooperation with supervision, relaxing the top-down process. 

In this sense, Libra can be quickly operated and implemented, which will affect international currencies market, especially the marginal currencies of small and medium-sized countries, as well as monetary policy and global capital flows.

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