Zhou Xiaochuan: Digital currency should adhere to principles of security, convenience, low cost, and anti-abuse

ChainCatcher news, the 2023 China (Beijing) Digital Finance Forum has officially commenced, themed "Integration and Upgrading: Building a New Ecosystem for Digital Finance Together." Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia, attended and delivered a speech on issues related to digital currency, stating that in the development ecosystem of digital currency, the digitization of payment systems and the digitization of currency are two sides of the same coin. Secondly, as the digital currency ecosystem develops, some concepts will gradually become clearer, and everyone is also gradually exploring; in fact, concepts are also undergoing integration and upgrading. Currently, the development of digital currency, including the digital renminbi, is still primarily based on account-based digital currency. Of course, token-based digital currency is also a path that may have development space, but the mainstream remains account-based digital currency. Thirdly, it is essential to deeply understand and adhere to the dual-layer operational system. At the same time, Zhou Xiaochuan emphasized the need to uphold principles such as safety, convenience, low cost, and anti-abuse.

Zhou Xiaochuan added that cross-border transactions are also one of the important exploration directions for central bank digital currency, involving both technology and systems, as well as policy orientation.