China’s e-CNY Research Institute has recently been established to support the progress of the country’s central bank digital currency (CBDC). The inauguration took place at the “2024 Second e-CNY Industry Sustainable Development Seminar” in Suzhou, where industry experts gathered to celebrate this milestone.
The e-CNY Research Institute is set to serve as a hub of expertise, focusing on rational pragmatism and conservative innovation. By adopting a “joint expert construction” model, the institute aims to utilize market dynamics to promote the sustainable growth of the digital yuan industry.
The institute’s initial group of experts includes representatives from prominent institutions such as the Industrial and Commercial Bank of China (ICBC), MYbank, Suzhou Bank, Tencent, Huawei, JD Technology, Zhejiang University, and Nanjing Audit University. This diverse group brings together professionals from banking, payment and tech companies, academic institutions, and media organizations to drive industrial research, project development, standard setting, and talent nurturing for enhanced industry collaboration.
As the Institute kicks off its operations with a meeting on April 19, the focus will be on outlining strategic goals and approaches. The aim is to expand the professional network, improve project implementation, and enhance standardization processes. Through activities such as sharing case studies, recognizing excellence, evaluating projects, and organizing offline events, the institute seeks to propel the development of the digital yuan.
The establishment of the e-CNY Research Institute marks a significant step towards advancing China’s CBDC. By fostering collaboration among experts from various sectors, the institute is poised to play a crucial role in shaping the future of the digital yuan industry. The upcoming initiatives and strategic direction set the stage for a dynamic and innovative approach to accelerating the development of China’s central bank digital currency.
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