TechFlow news, PBOC Governor Yi Gang stated during the "2022 Hong Kong FinTech Week" that privacy protection is one of the most important issues for central bank digital currencies. Yi Gang mentioned that in designing the digital RMB, the PBOC adopts a "two-tier operation" and "controllable anonymity" approach to safeguard personal privacy while maintaining financial security.
Specifically, in the digital RMB operational system, the central bank serves as the first tier, conducting centralized management by processing only inter-institutional transactions and not handling personal transaction data. Designated operating institutions serve as the second tier, collecting personal information based on the "minimum necessary" principle and providing the public with digital RMB exchange and circulation services.
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