Deng Jianpeng, Central University of Finance and Economics: The reason for the unsuccessful issuance of fiat digital currencies in some countries is that their fiat currencies have low credit

Deng Jianpeng, a professor at the Law School of Central University of Finance and Economics, said that the issue of fiat digital currencies in some countries was mainly due to the low creditworthiness of their fiat currencies. In the final analysis, the currency form is only a manifestation, and the credit behind the currency can support its circulation and use. Such responsibilities also need to be assumed by large economies. China's research on legal digital currency has been for several years, and its technical and financial strength is quite strong. Although no major country has issued a legal digital currency, the People's Bank of China is in a leading position in terms of foreign progress.