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PBOC Set to Be First to Issue Digital Bills

By Zhang Yuzhe and Han Wei

(Beijing) – The People’s Bank of China (PBOC) completed a successful trial run of a digital bank acceptance exchange, moving closer to becoming the first central bank in the world to research and test its own digital currency.

According to sources from the PBOC, the central bank on Dec. 15 completed the trial in transactions and settlements of bank acceptance bills using a digital currency it developed, supported by blockchain technology – a secure digital ledger that records online transactions.

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