Cross-Border Central Bank Digital Currency Trial Adopts Blockchain to Protect Privacy

What’s new: An international project involving China to experiment using multiple central bank digital currencies (CBDCs) for cross-border payments has adopted a blockchain technology to protect privacy, a Chinese official said Thursday.

All sensitive data, such as transaction records and user credentials, are protected by the technology’s privacy control mechanism, Mu Changchun, director of the Digital Currency Institute at the People’s Bank of China (PBOC), said at the Hong Kong FinTech Week conference.