Di Gang of the Central Bank: Virtual currency is an asset, not a currency

On May 18, Di Gang, deputy director of the Digital Currency Research Institute of the People's Bank of China, said in a speech at the 2018 China Financial Forum that currency is to be used for consumption and circulation, and the so-called virtual currencies on the market are more of assets than currencies.

At the same time, Di Gang believes that the blockchain still needs a certain central endorsement.

“There are so many chains now, why should I entrust you to build one? What kind of organization are you and what label do you have? So just like the cloud, if there is a trusted cloud, there will be a trusted chain in the future, especially now that the blockchain code is open source, it is easy to make one. I understand that it still needs a certain central endorsement.”