The e-CNY Research Institute was established to assist in the development of the CBDC, the digital currency of the People’s Bank of China.
Industry experts convened in Suzhou for the “2024 Second e-CNY Industry Sustainable Development Seminar” to commemorate the unveiling of the institution, according to a recent article by MPayPass.
Seminar organizers MPayPass and Suzhou City Digital Finance Industry Federation worked together. Think tank specialists dedicated to conservative innovation and reasonable pragmatism would make up the e-CNY Research Institute.
The institute’s “joint expert construction” concept seeks to use market forces to help the digital yuan sector grow sustainably.
The formal unveiling ceremony was conducted by Wu Wenjun, Secretary-General of the e-CNY Research Institute, Mu Chu, editor-in-chief of MPayPass, and members of the founding organization.
Wu was given certificates by Mu, who had already presented him with his appointment letter as Secretary-General.
Members of the initial set of specialists come from a variety of backgrounds and institutions, including the following: Nanjing Audit University, Tencent, Huawei, JD Technology, Zhejiang University, and the Industrial and Commercial Bank of China (ICBC).
Banks, payment and IT businesses, academia, and media all come together on this list to improve industry cooperation via industrial research, project creation, standard establishment, and talent development.
The Institute will have a launch meeting on April 19 to describe its methodology and long-term goals. Objectives and a plan for the institute’s future endeavors will be the primary topics of discussion at this meeting.
The institute’s future goals include strengthening project execution and standardization and broadening its professional network. It seeks to propel the growth of digital yuan by allowing case sharing, rewarding greatness, assessing initiatives, and holding offline events.
Also Read: Elon Musk Voices Serious Concerns About AI
Wallets