Pan Helin, Zhongnan University of Economics and Law: Digital currency and finance based on blockchain technology have a natural fusion

According to China Securities Journal, Pan and Lin Fawen, executive dean of the Institute of Digital Economy of Zhongnan University of Economics and Law, said there are three important conditions for the internationalization of the renminbi. First, the RMB has a certain degree of circulation abroad. Second, RMB-settled transactions in international trade must reach a certain proportion. Third, RMB-denominated financial products have become investment instruments for major international financial institutions, including central banks. The digital currency based on blockchain technology and finance have a natural fusion. Using digital currency will greatly increase the speed of cross-border settlement, and its security is much higher than traditional cross-border settlement. With China's international influence and the expansion of overseas capital, DC / EP will become an important driving force for the internationalization of the RMB.