China’s central bank completed the development of the «top level» of digital yuan

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The People’s Bank of China reported on the completion of the upper level design of the national digital currency and readiness to verify the stability of the electronic payment system.

According to the published document, the Central Bank has already developed standards, conducted research of the functional and tested compatibility. The following steps should be checking stability, security and system control tools.

According to the head of the cryptocurrency division of the NBK Changchun Mu, the Digital Yuan will become an absolutely legal means of payment, will ensure the anonymity of users will allow to perform offline transactions and

It is known that the digital yuan will function in a two-level centralized system, with the NBK on top, and commercial banks at the second level. For commercial banks of electronic means, they will first need to reserve the equivalent FIAT sum in the Central Bank. Next, citizens and companies will be able to open personal wallets in these banks to get the opportunity to use a new payment tool.

Previously, the NBK also

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