People close to the central bank describe the reasons for the slowdown in CBDC R & D after the central bank conducted a digital currency test in 2017

In 2017, the People's Bank of China conducted digital currency testing through a digital bill trading platform, becoming the first country in the world to conduct such experiments. However, the digital currency test in 2017 is more about technology reserve and knowledge accumulation, which is not the same concept as the real issue of digital currency. After the test of that year, the central bank's research and development of digital currency entered a slow pace. People close to the central bank believe that the reasons for the above situation include two points: first, the currency circle was rectified, and whether digital currency R & D adopted the blockchain technology closely related to the currency circle is controversial; on the other hand, the central bank promoted legal digital currency Unlike private digital currencies, if you want to speed up further, you need to consider more factors.