This article was originally published by 8btc and written by Vincent He. A dedicated team from the People’s Bank of China’s (PBoC) Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters, according to a report from September 5, 2019. China’s central bank digital currency (CBDC) has begun a “restricted access test” to simulate payment scenarios involving “some commercial and non-governmental organizations.” The test may be the integration of each module developed for the CBDC in which the outflow and inflow of digital money will form a complete, closed loop. On September 4, 2019, Changchun Mu, deputy director of the Payment and Settlement Department of China’s central bank, opened a public course called “Fi-tech Frontier: Libra and … [Read More...]