Research into China's national digital currency has been suspended due to quarantine at government agencies.
According to the local edition of The Global Times, dueepidemics, many organizations and institutions, including the central bank, temporarily stopped their activities in order to prevent infection of personnel. Therefore, work on the draft of a new national electronic payment system is postponed until quarantine is completed.
However, according to the publication's sources, the launch of the digital yuan may take place in accordance with the initialschedule since the People's Bank of China inAt the disposal there are enough resources and specialists to catch up. Although experts expect a full debut of the payment system only by the end of 2020.
Three people are working in this directionresearch centers run by the central bank. In January, the NBK announced the completion of the design of the upper level of the national electronic payment system and its readiness to test its performance.
According to the consulting company IDC, by 2023 the digital yuan will be used in 10% of Chinese cities.
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