February 27, 2021

Digital RMB will be launched in 2-3 months, HCM Capital predicts

Digital RMB will be launched in 2-3 months, HCM Capital predicts

Jack Lee, the founder and managing partner of the investment company HCM Capital, said that the digital yuan is already ready and can be launched in the next 2-3 months.

In his interview, he also suggested thatThe central bank will use digital currency to strengthen control over capital flows. Using blockchain capabilities instead of monitoring banknote serial numbers will increase efficiency and simplify this process.

According to Jack Lee, China has developed a hybrid system in which transactions in digital currency will be made through existing payment and banking infrastructure.

The Central Bank has not yet set an official launch date, but in September, the new head of the blockchain division of the People’s Bank of China revealed some of the technical features of the digital renminbi.

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