Zhu Min: The central bank will face greater pressure if it does not issue digital currency.

According to China News Network, on November 22, Zhu Min, dean of the National Finance Research Institute of Tsinghua University, said at the "Innovation Economic Forum" in 2019 that digital currency is a trend in the future. If the central bank does not issue digital currency, it will face it. Greater pressure. Zhu Min pointed out that the above pressures include pressure from the market. Various cryptocurrencies are currently emerging on the market. Although these cryptocurrencies are not sovereign currencies, they are actually eroding the realm of sovereign currencies. Central banks in some small countries are particularly worried that if they do not issue digital currency, the sovereign currency of the host country is likely to be marginalized. Many central banks around the world have begun to study digital currency about five or six years ago, including countries such as Canada, China, the United Kingdom and Singapore. Regarding whether China will become the world's first big country to launch the central bank's digital currency, Zhu Min said that it is not important whether it is the first one. The most important thing is that the technology is mature and the policy framework is mature.