People’s Bank of China Opens New Research Center

September 7, 2018

The Digital Currency Research Lab at the People's Bank of China (PBoC) has opened its new office in the city of Nanjing, the Jiangsu province.

According to Securities Times, the research center will be focused on using its own fintech concepts in pilot programs in collaboration with institutions like the Bank of Jiangsu and the University of Nanjing.

Note that several months ago the lab has opened its office in the city of Shenzhen. As the article says, new fintech centers will make the basis for testing the Central Bank’s state cryptocurrency.

Local media used to say earlier that Yao Qian, the head of the lab, filed for over 40 patent applications with each of them describing some specific key mechanisms of the future cryptocurrency.

This Thursday it became known that financial blockchain platform for local small businesses founded by the PBoC started test phase with some of the country’s commercial banks already trying it.

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