TMCD Director speaks to Press TV about China's digital Yuan

TMCD Director Prof Xiaolan Fu recently spoke on Press TV about the prospects of the digital Yuan which is designed to enhance access as it does not require its users to have internet access. 

According to her, the digital currency shall increase the accessibility of the Yuan for people living in remote areas, including the poor and marginalised, that do not have internet access. Furthermore, she said its global impact shall depend on the structure of the global payment and global monetary system. Specifically, its effect on the landscape of the global payment system shall depend on the structure of governance of the global monetary system.

She concluded by saying that the digital Yuan is an innovation which creates great convenience, reduces costs and accelerates the speed of settlements. It can enhance transparency by reducing fraud and money laundering; however there are risks related to data privacy but they can be addressed  through relevant regulations and laws.

You can watch the entire interview here, starting at the 9.55 minute mark.