Yi Gang, Chairman of the People’s Bank of China (PBoC), stated that the Digital Central Bank Currency (CBDC), called the digital yuan (e-CNY), will provide users with a certain level of anonymity.
PBoC President Yi Gang October 31 on Hong Kong FinTech week In his speech, he talked about the progress of e-CNY. Chairman Gang to users of e-CNY anonymity up to a certain level He also stated that they attach importance to the issue of confidentiality.
Gang believes that the digital yuan is in China, which already has a solid digital payment infrastructure. alternative to cash included in the agenda of the protection of privacy while declaring that it is positioned as one of the most important issues underlined that.
According to the president’s statements, it will offer its users controllable anonymity two-stage PBoC in the first tier of the payment system, will provide e-CNY to authorized operators and at this level inter-institutional transaction information only will be processed. In the second tier, authorized operators are for public use only. exchange and circulation necessary for the services personal information collect and data will be encrypted, sensitive information will be anonymized and will not be shared with third parties. In addition, users, thanks to private wallets up to a certain amount to make anonymous transactions.
your anonymity a double-edged sword Noting that there is a need for anonymity, the president underlined that anonymity should be handled carefully, especially in financial sectors. Chairman Gang on anonymity protection of individual privacy and combating illegal activities He said a balance had to be struck. Similar views were expressed by many officials.