Wang Yongli: Legal digital currency can be explored, but it must be very cautious

According to WeChat public number@China Foreign Exchange News, Wang Yongli, former deputy governor of Bank of China and chief economist of Haiwang Group, said that legal digital currency can be discussed, but must be very cautious, any new design must be with existing legal currency. The system is carefully compared and analyzed in terms of operational efficiency, operating costs, and possible risks. Without certainty, it cannot be blindly promoted. From the current assumptions about the legal digital currency, even if it is just a substitute for cash, its actual value is superior to the existing system, and there is no convincing conclusion.