Research on the Central Bank's digital currency (CBDC) in China has been delayed due to the advancing coronavirus epidemic.
On 25 February, the Global Times reported that the impact of the epidemic on staff was highly complex. Apparently, a source familiar with the matter said:
"The coronavirus epidemic has led to the postponement of the resumption of work in government institutions, including the People's Bank of China." The politicians and academics involved in the DCEP [Digital Currency Electronic Payment] project are no exception to this.
Shentu Qingchun, President of Shenzhen-based BankLedger, who is involved in the project, said that the central bank was to issue an important statement in the first quarter of 2020.
He noted that there is only one month left in this quarter, "so the chances for a timely announcement are low.
Cao Yin, a blockchain researcher at the Yangtze Delta Region Institute of Tsinghua University, said that he expects the CBDC to be launched later this year. He explained that China "is preparing to launch both technologically and theoretically for a long time," and the roadmap is already in place. Cao also suggested that the central bank's digital currency team has enough staff to make up for the delay.
