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Peoples Bank Of China Expected To Release CBDC In Next 2-3 Months
Summary: Jack Lee, founding managing partner of HCM Capital, the private equity arm of electronics manufacturer Foxconn, claimed that China’s Central Bank Digital Currency (CBDC) is ready and should launch in the next two to three months. In an interview with CNBC, Lee says that the People’s Bank of China (PBoC) will use the CBDC as ...
Jack Lee, founding managing partner of HCM Capital, the private equity arm of electronics manufacturer Foxconn, claimed that China’s Central Bank Digital Currency (CBDC) is ready and should launch in the next two to three months.
In an interview with CNBC, Lee says that the People’s Bank of China (PBoC) will use the CBDC as a way to further increase its oversight over capital flows. Lee explained that the PBoC already follows cash movements through serial numbers on banknotes, so blockchain will offer a much more effective way to track the movement of money.
By Ramsey Baker
Tags: CBDC,China,HCM Capital
Link: Peoples Bank Of China Expected To Release CBDC In Next 2-3 Months [Copy]
