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.

Chain Catcher News, Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia, pointed out on September 8 at the "2022 Second China (Beijing) Digital Finance Forum" that the digital renminbi is one of the modern public financial infrastructures and represents a significant upgrade of the central bank's payment system in terms of technology, organizational structure, and business model. Through this upgrade, it will achieve the overall coordination and integration of the national payment market, break down payment barriers, enhance user experience, and provide important foundational support for the development of digital finance."Many central banks around the world have begun to develop central bank digital currencies, and China has always been at the forefront. The DC/EP digital renminbi pilot project has achieved rich practical results, with application scenarios continuously expanding and broad prospects," Zhou Xiaochuan noted. Compared to developed countries like the US and Europe, which focus on cross-border payments for digital currencies, the digital renminbi emphasizes the retail payment segment.Zhou Xiaochuan stated, "It is clear that retail payment is an important foundation for effective cross-border payments. Imagine if two countries do not have efficient and secure digital currency retail payment arrangements, it would be difficult to achieve cross-border connectivity." At the same time, Zhou Xiaochuan also mentioned that cross-border payment and settlement of central bank digital currencies require coordination and cooperation between countries in terms of foreign exchange management policies and financial infrastructure. (Caixin)