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  • China’s intentions are not to be seeking full control of private data.
  • A senior central bank official attempted to ease privacy concerns with the incoming national digital currency.  

The intentions of China’s digital China’s proposed digitized domestic currency is not a bid to gain full control of information belonging to the general public, according to a senior central bank official.

Adding that the goal was to balance privacy concerns and the authorities’ need for information.

Head of the People’s Bank of China’s digital currency research institute said on the concerns:

We know the demand from the general public is to keep anonymity by using paper money and coins, we will give those people who demand it anonymity in their transactions,