Deconstructing the Central Bank's Digital Currency: Closer to Individuals But Farther Away from Blockchain

[ChainDD report] August 16th (ChainDD) The central bank's digital currency system will be a centralized electronic cash system that uses public/private key cryptography to achieve a disconnected account system. It is different from various digital currencies in the current world. It is closer to the individual and farther away from the blockchain.

Mr. Mu Changchun, deputy director of the Payment and Settlement Department of the People's Bank of China, gave a detailed introduction to China's central bank digital currency (CBDC) at the 3rd China Financial Forty Forum. Given the occasion, identity and content, this introduction should be with a certain "official propaganda" nature. It has become a rare material for everyone to understand and analyze the central bank's digital currency, and thus set off a wave of discussions on the central bank's digital currency.

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