TechFlow news, according to Xinhua News Agency, Yi Gang previously pointed out clearly that the digital RMB does not pre-determine a technical route in its development work, allowing fair competition among technologies in the market to select optimal solutions. It may consider blockchain technology, or adopt new technologies evolved from existing electronic payment systems, fully mobilizing market enthusiasm and creativity. It is evident that while blockchain is one of the technological routes under consideration for the digital RMB, it is by no means the only option. Earlier, certain institutions had falsely used the name of the People's Bank of China to issue or promote "legal digital currency." In response, the central bank issued a statement clarifying that it has not issued any legal digital currency, nor authorized any asset trading platform to conduct such transactions.
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