Wang Yongli: The central bank can't simulate bitcoin to develop digital currency, CBDC can only be digitized by legal currency.

Babbitt reported on the 23rd, November 23, 2019 Netease Future Conference opened in Hangzhou. In the "blockchain + real economy" forum held in the afternoon, Wang Yongli, former deputy governor of the Bank of China, said in his speech that the central bank could not simulate bitcoin to develop digital currency. Because bitcoin is decentralized, the central bank's digital currency must be centralized. The central bank’s digital currency can only be digitized by legal tender.