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China to let banks pay interest on digital yuan wallets from January 2026

China to let banks pay interest on digital yuan wallets from January 2026

China’s central bank is rolling out a new framework for the digital yuan that will allow commercial banks to pay interest on e-CNY wallet balances starting Jan. 1, 2026, a move officials say will push the central bank digital currency (CBDC) beyond its original role as a cash substitute.

The new CBDC framework will allow banks to treat the digital yuan as part of their asset-liability operations, Lu Lei, a deputy governor of the People’s Bank of China, wrote in a PBOC-affiliated China Financial Times article published on Monday.

“The digital RMB will move from the digital cash era to the digital deposit currency (Digital Deposit Money) era,” said Lei in the report. “It has the functions of monetary value scale, value storage, and cross-border payment.”

While cryptocurrency transactions and stablecoins are banned in Mainland China, the PBOC continues developing its CBDC framework, seeking to utilize the efficiency of blockchain rails through a central-bank-issued digital cash alternative.

This is in contrast to the stablecoin-friendly US regime, where President Donald Trump issued an executive order banning the creation of a CBDC, citing concerns over their potential to threaten financial system stability, individual privacy and national sovereignty.

The executive order, signed on Jan. 23, prohibits the establishment, issuance, circulation or use of CBDCs, a development described as a “game-changer” for the growth of the US crypto industry, Anndy Lian, an author and intergovernmental blockchain adviser, previously told Cointelegraph.

In July, Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, the US’s first comprehensive stablecoin framework, which established clear rules for stablecoin collateralization and mandated compliance with Anti-Money Laundering laws.

China’s “Action Plan” to accelerate e-CNY adoption

China’s new framework, the “Action Plan on Further Strengthening the Digital RMB Management Service System and Related Financial Infrastructure Construction,” seeks to expand the national use of the e-CNY and build the necessary infrastructure.

In September, the central bank established the RMB International Operations Center in Shanghai, a blockchain services platform seeking to build onchain settlement tools and crosschain transfer capabilities to promote the use of the digital yuan in cross-border settlement.

While the PBOC said that the digital yuan could create more financial inclusion, some critics are concerned about its ability to give more financial control to the central bank.

“The Chinese government wants more control over payments,” according to Alex Gladstein, chief strategy officer at non-profit organization the Human Rights Foundation.

While the central bank already holds a “firm grip” on the two leading commercial payment giants, direct control and oversight over a digital currency would provide more data and “power to deny people access,” Gladstein told MIT Technology Review in August 2023.

 

Source: https://cointelegraph.com/news/china-digital-yuan-interest-wallets-2026

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Blockchain Beyond Borders | Episode 1 | Let’s Talk All ‘Bout Crypto | ABC Conclave

Blockchain Beyond Borders | Episode 1 | Let’s Talk All ‘Bout Crypto | ABC Conclave

The world of blockchain technology is rapidly expanding, promising revolutionary changes across borders and industries. In a recent talk show episode titled “Blockchain Beyond Borders: Building Global Bridges for Innovation and Adoption,” industry experts gathered at the ABC Conclave in Dubai to discuss the transformative potential of blockchain technology. Panelists included Anndy Lian, an Intergovernmental Blockchain Expert from Singapore; Kris Bennett, Co-Founder and Chief Learning Officer of the Blockchain Training Alliance in the USA; Raj Kapoor, Founder & CEO of the India Blockchain Alliance; and Shailesh Kunnath, Co-Founder of Masary Capital in the UAE. Moderated by Jenny Zheng; Co-founder, Blockcast.cc.

Identifying Real Solutions Amidst the Fluff
The panelists engaged in a dynamic conversation, sharing their perspectives on the blockchain landscape’s key considerations for success. Raj Kapoor kicked off the discussion by emphasizing the importance of addressing real-world problems through blockchain solutions. He highlighted that the market often gets flooded with proposals that lack substance, urging entrepreneurs to go beyond the hype. Kapoor stressed that genuine innovation must tackle real challenges or enhance existing solutions to be impactful.

Critical Criteria for Sustainable Blockchain Projects
Jenny Zheng then outlined several critical criteria he uses to evaluate blockchain projects. First and foremost, she emphasized the significance of solving real-world problems. She stated that projects should demonstrate how they enhance existing solutions or address pressing issues. Jenny also scrutinizes the longevity of project promoters, looking beyond financial factors to their determination and commitment. She noted the value of having validation, even in the form of a small customer base or a proof of concept. Additionally, she assessed the hunger and dedication of project promoters, along with family and friends’ initial support, as indicators of credibility. Jenny’s insights highlighted the multifaceted nature of project evaluation.

Perspectives on Blockchain Adoption
Kris Bennett chimed in, offering his perspective on blockchain adoption. He highlighted the common tendency to prioritize technology in emerging industries, cautioning against neglecting practicality and value delivery. Bennett stressed that being the first to market doesn’t guarantee success. Drawing a historical parallel to Amazon’s rise in the e-commerce sector, he noted that timing and impact matter more than being the earliest player. Bennett also emphasized the importance of conveying value without relying solely on technology jargon, urging entrepreneurs to articulate the benefits of their solutions independently of blockchain or crypto references. Lastly, he underscored the significance of building a strong, well-rounded team with diverse expertise to drive success.

Community, Education, and Future Growth
Anndy Lian added his insights, focusing on the role of education and community in blockchain growth. Lian highlighted the necessity of educating not only individuals but also entire ecosystems, including venture capitalists and regulators. He commended Dubai’s proactive approach to fostering blockchain education and innovation. Lian also discussed the importance of community engagement, explaining that a vibrant and supportive community is crucial for sustained blockchain adoption. He encouraged a collaborative approach where different stakeholders contribute to the technology’s advancement.

Regulatory Strategies for Blockchain Innovation
Transitioning to regulatory concerns, Lian, drawing from his experience with governments and regulatory bodies, emphasized the evolving nature of blockchain regulation. He acknowledged that many countries are grappling with regulatory frameworks for this emerging technology. Lian stressed the importance of cross-border transactions and the need for cooperation to ensure stability in the financial sector. He highlighted the significance of developing clear regulatory guidelines to support the growth of blockchain while safeguarding financial systems.

In Conclusion
In the era of blockchain, collaboration, education, and a problem-solving mindset stand as critical pillars for success. The panelists’ insights underscored the dynamic and multifaceted nature of the blockchain landscape, revealing the need for innovative solutions, well-structured teams, community engagement, and regulatory clarity to drive the technology’s transformative potential globally. As the world continues to navigate the opportunities and challenges presented by blockchain, one thing remains clear: the path to success is paved with innovation and collaboration.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Hackernoon Meet the Writer Anndy Lian: “Let’s work together to make crypto better”

Hackernoon Meet the Writer Anndy Lian: “Let’s work together to make crypto better”

This story is a part of Hacker Noon’s Meet the Writer series of interviews. The series is intended for tech professionals contributing the most insightful Hacker Noon stories to share more about their writing habits, ideas, and professional background (and maybe a hobby or two).

If you too would like to start contributing to Hacker Noon, you can do so here.

 

So let’s start! Tell us a bit about yourself. For example, name, profession, and personal interests.

My name is Anndy. I’m a business strategist and experienced serial entrepreneur with over 15 years of experience in Asia. I’ve worked in various industries for local, international, and publicly traded companies. I am currently Chairman of BigONE Exchange and Chief Digital Advisor at the Mongolian Productivity Organisation.

I’ve also written a best-selling book titled “Blockchain Revolution 2030”. With my co-authors, we share insights on how blockchain technology plays an important foundation for the Fourth Industrial Revolution.

I recently joined the EG Association, a social impact-driven organization that aims to use cryptocurrency to do good. To date, we have deployed more than $3 million supporting social impact initiatives on the ground.

 

Interesting! What was your latest Hackernoon Top story about?

My recent article focused on the rise of so-called reflective tokens, which are starting to be used more and more by crypto startups, such as SafeMoon. The tokenomics model differs significantly from that of other DeFi tokens. In simple terms it works by automatically charging a tax, which is usually 10% on each transaction.

The reflection mechanism is a relatively new concept in cryptocurrency circles, and it still requires a lot of fine-tuning before it can be widely adopted by other projects. However, in principle, it reduces panic selling to a bare minimum, which could be significant for the DeFi industry.

 

Do you usually write on similar topics? If not, what do you usually write about?

I think it’s important to write about the diversity of subjects in the blockchain and crypto industry, as it’s a sector that growing so quickly and with a lot of opportunities. I’m fascinated about ‘connecting the dots’ between business and technology, a great example being the use of DeFi and NFTs in developing an open metaverse.

 

Great! What is your usual writing routine like (if you have one?)

Before starting to write I believe it’s important to have a routine for reading each day. I try to find time to catch up with the main news headlines, as well as the main crypto news sites like Cointelegraph. Then when I come to writing I find that reading helps make my articles both accessible and valuable. I also get my inspiration from the governments that I am advising, their problems and questions become part of my writing content too.

 

Being a writer in tech can be a challenge. It’s not often our main role, but an addition to another one. What is the biggest challenge you have when it comes to writing?

The challenge is often one of translation, explaining technical details around say a new form of tokenomics to an interested but non-technical audience such as crypto investors.

 

What is the next thing you hope to achieve in your career?

I want to share the right kind of crypto knowledge with people. Right now many of the people I see in various communities are not being real. Some of them want their government to be decentralized, others want to be rich overnight by doing nothing, then some others are just here to create FUDs. If proper information is being shared and the users are aware of what is really happening, such ‘behaviours’ would be minimised.

Maybe this is not a career goal, it is more like an industry-wide goal that I set for myself.

 

Wow, that’s admirable. Now, something more casual: What is your guilty pleasure of choice?

Since getting grounded and not being able to travel, I have been very involved in donations and charitable works. In fact, those who know me, know that I am donating more than I spend. My guilty pleasure, for now, is walking into Hermes, buying a few pairs of shoes instead of donating. Then again, Zoom meetings did not need me to travel much, maybe a comfortable Uniqlo t-shirt would do just fine.

 

Do you have a non-tech-related hobby? If yes, what is it?

I enjoy travelling, meeting new people from all walks of life, and sharing ideas.

 

What can the Hacker Noon community expect to read from you next?

I’m always on the lookout for new topics in crypto and blockchain that illuminate and inspire my readers! I might be talking more about metaverse and gameFI. Let’s see.

 

#Thanks for taking the time to join our “Meet the writer” series. It was a pleasure. Do you have any closing words?

“The time is always right to do the right things.” I hope to gather more like-minded people to do that together for the crypto industry. Let’s work together to make crypto better!

Lastly, it’s great to join the Hacker Noon community and to share my writing on crypto and blockchain.

 

Original Source: https://hackernoon.com/meet-the-writer-anndy-lian-lets-work-together-to-make-crypto-better

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j