ChainCatcher News, Mu Changchun, the director of the Digital Currency Research Institute of the People's Bank of China, spoke and answered hot questions about the "Currency Bridge" project at the 2022 Hong Kong FinTech Week. Mu Changchun stated: "We have built a system for the 'Currency Bridge', with the core being the Currency Bridge blockchain. The 'Currency Bridge' project adopts a Lego-like architecture, which is a modular architecture. Compared to the 'chimney architecture', the advantage of a modular architecture is that it allows interaction and collaboration between modules, significantly reducing compliance and regulatory costs, and enhancing the flexibility and adaptability of business governance, regulation, and policy systems among multiple countries (regions)."When asked why the "Currency Bridge" uses blockchain technology, Mu Changchun stated that although blockchain technology is not the most suitable technology for payment systems, considering the numerous participants in the Currency Bridge and the different cross-border payment regulatory systems and capital flow management systems in various jurisdictions, a decentralized technological approach is a more suitable choice to better address issues such as multi-party trust and privacy protection. (Source link)