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Zhou Xiaochuan: China's choices for a digital currency system

Former central bank governor advises against specific technological road map

There needs to be some kind of balance between protecting the privacy of digital retail transactions and giving authorities access to data related to potential crimes, says former People's Bank of China Gov. Zhou Xiaochuan.   © Reuters

Caixin editor's note: China will probably become the first major economy to officially launch a sovereign digital currency, which has long drawn attention from central bankers and fintech investors around the world. This article provides detailed explanation of the issue and what's behind Beijing's digital yuan ambitions.

* The development of China's digital currency is not completely along the same path as many other countries' central bank digital currencies.

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