The Chinese central bank is calling for the use of blockchain and other technologies to be accelerated to accelerate the digital transformation in the country – crypto trends

In a meeting, the heads of state and government of the People’s Bank of China (PBoC), the central bank of the Asian country, called for the intensification and massive introduction of blockchain in their operations and in the broader financial sector

A current report from Sinanotes that the Financial Technology Committee of the People’s Bank of China (PBoC) during his first meeting with the deputy governor of the central bank, Fan Yifei, an audience spoke of PBoC officials, heads of central offices and related finance companies on the goals of Financial Technology Development Plan (FinTech) Government in time 2019-2021.

The plan Fintech, mainly focuses on the introduction of the Standardization and risk management in financial technology operations of cross markets, they say. The Vice Governor Fan Yifei, found that be able to fulfill the plan It is important Accelerate the digitalization of the economy with blockchain and other 4.0 technologies.

As he Central bank and its subsidiaries, as well as the government finance sector they should be wider “Increase the app” y Actively use blockchain technologyas well as Big data, artificial intelligence and technology in the cloudas described by report.

In addition, the Head of the Chinese Central Bank Institute, pointed out that the Blockchain application and Industry 4.0 will help “Resume work” Post pandemic because of Covid-19, in order to start the economy in the country.

The executives added that they would help both Central bank and other financial institutions of the country to a Improved, optimized and unified supervision for the financial technology sectorand they also indicated that they would help them Increase your technical prevention skills Financial risk.

Since last year, China is aggressively pushing ahead with plans to explore and implement blockchain technology in different areas of the nation, even more recently China He started it is national blockchain service platform abroad. Chinese telecommunications companies too examine the integration of networks 5G with blockchainin addition to other new technologies.

In the meantime, they continuously strive to develop the digital yuan, an initiative that they have cataloged “imminent”, as a former governor of the Central bank.

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