PBOC governor says blockchain is transforming payment infrastructure. China plans to expand the digital yuan globally with a Shanghai center. Officials urge a multi-currency system to reduce reliance on the U.S. dollar. The governor of the People’s Bank of China (PBOC), Pan Gongsheng, delivered a powerful message on the future of finance, stating that blockchain technology and the rise of stablecoins are fundamentally transforming global payment systems while creating new regulatory hurdles. Blockchain Advances Payments, Raises Oversight Concerns On Tuesday, the People’s Bank of China (PBOC) governor stated that blockchain technology is playing a key role in reshaping traditional financial systems. Speaking at the Lujiazui Forum in Shanghai, he noted that blockchain is speeding up the development of stablecoins and enabling faster, more efficient cross-border payments. Related: Trump Claims China Trade Deal Is Finalized, Awaits Xi’s Approval The governor added that this innovation marks a major transition from traditional payment systems, which often rely on intermediaries and have lengthy processing times. According to the PBOC chief, these c… The post China’s Central Bank Governor Says Blockchain Speeds Up Stablecoin, Payment Innovation appeared first on Coin Edition .
