PBoC’s digital currency has opened the research center in eastern China

The People’s Bank of China (People’s Bank of China) has intensified its efforts to promote financial technologies such as the distribution chain by opening a new research center in Nanjing.

The bank blocking front, known as the Digital Monetary Research Laboratory, is entering the capital of East Jiangsu Province with the promise of joint financial technology development with the municipality. Newly designed vehicles will feed their FinTech pilot projects at various financial and academic institutions in Jiangsu, including Jiangsu Bank, Jiangsu Bank and Nanjing University.

A local newsletter indicated that the PBOC was trying to establish an economic link between various public institutions in terms of policy, production, research and development, education and at the same time. The Nanjing headquarters has enabled the Chinese central bank to combine government departments, high-tech parks, financial institutions, universities, research institutes and research and development companies with a single variable data exchange. blockchain technology.

R & D Park is also interested in researchers in the fields of data, mobile telephony, internet and, above all, artificial intelligence. The goal will be to create valid cross-points between different technologies for the benefit of government agencies under the direction of the PBOC.

Nanjing Fintech center to test Chinese digital currency
China was among the first countries to refute Bitcoin and listen to the plans of the national digital currency on Bitcoin’s core technology. Nanjing FinTech’s head office will also advance the PBoC agenda by testing the Yuan digital prototype before potential distribution nationwide. Digital Currency Research Laboratories has already established a branch with a starting capital of $ 300,000, with a wholly owned subsidiary, Shenzhen Fintech Limited, in the southern city of Shenzen.

Like Nanjing, Schenzen research and development laboratories have also partnered with the city government to place blockers between local people and financial institutions. The laboratory has already published more than 40 patents on the development of the centralized digital currency to project China as a world leader in the development of the blockchain. According to the local press, most of these patents are focused on loans for interest rate management, stock markets and portfolio systems.

Even though Nanjing is behind Schenzen, China has been able to advance research by accelerating the systematic preparation of digital currency.