세계 최초 CBDC '디지털위안' 성큼...주요국 견제구에 '전운'<br /><br />Our next story is about how a growing number of countries are rushing to issue digital currency, paving the way towards a world with a cashless future.<br /><br />For more on this, we turn to Lee Kyung-min from the Korea Times who is on the line for us.<br />Good morning Kyung-min, let's begin with China which took a big step forward?<br />According to local media outlets, PBOC, the Chinese central bank, in cooperation with the government in Shenzhen, handed out $1.5 million of the new digital currency, Oct 12 (local time), to a total of 50,000 out of over 1.91 million citizens that participated in a lucky draw.<br />Each winner can spend 200 yuan at over 3,000 retail outlets.<br />The giveaway came shortly before Chinese leader Xi Jinping's visit to Shenzhen, organized to celebrate the 40th anniversary of the country's establishment of its first special economic zone.<br />It was an indication that Beijing is stepping up efforts to bolster the yuan's status as a global currency amid an increasingly digitized economy there.<br />What is notable about China's move is that it seeks to replace paper money with digital currency in stages.<br />China expects that the new currency will be used to make payments for goods and services of small monetary value for the time being.<br />But it will seek to circulate the new currency for digital transactions worldwide as part of a long-term plan to fundamentally reshape the U.S. dollar-centered global economy.<br />I'm hearing that central banks in Russia and Japan are also gearing up similar efforts?<br />According to reports by local news media outlets, Russia's central bank officially confirmed Oct. 13 that it plans to issue a CBDC by publishing a consultation paper on the digital ruble, adding that the digital ruble will be an additional form of money alongside cash.<br />It is reportedly considering using the digital ruble to pay salaries and benefits.<br />But at least two years will be needed for the new currency to be issued.<br />Similarly, the Bank of Japan, Japan's central bank, said Oct 10 (local time) that it would begin a three-stage test of digital currency next year.<br />The BOJ said that it has no plans to issue a CBDC, but stressed that it will increase digital currency operation capabilities in response to China's similar move.<br />And Kyung-min, What is the latest with Korea's central bank?<br />The Bank of Korea said Oct 7 that it will initiate a blockchain-based CBDC pilot program next year when the currency issuance and return will be undertaken by the central bank, whereas circulation will be managed by private financial institutions.<br />The BOK said the circulation of currency will have to be mediated by private financial services firms notably banks - similar to how cash is currently circulated, and developments including strengths and drawbacks will be monitored and analyzed to determine the feasibility of the program.<br />Thank you, that was Lee Kyung-min, from the Korea Times, reporting for us.<br />
