PR86574

PARIS, Nov. 12, 2020 /PRNewswire=KYODO JBN/ --

Leanne Zeng, Vice President of Global Affairs at Thousand Cities Strategic

Algorithms Cloud Technology (TCSA), attended a panel that explored "The New

Digitalization of International Finance and the Future of the International

Monetary System" on November 5. The panel took place during the Dialogue of

Continents, a forum hosted by the Hamburg Institute of International Economics

and the Reinventing Bretton Woods Committee.

Chaired by Ousmene Mandeng, Senior Advisor at Accenture, the panelists included

Jean Pierre Landau, Former Deputy Governor of Banque de France; Rod Garratt,

Chair in Economics, UC Santa Barbara; Harold James, Professor of History and

International Affairs, Princeton University; and Livio Stracca, Deputy Director

General International Relations, European Central Bank. Panelists engaged in a

heated debate and exchanged their views on existing problems in the global

monetary system, as well as the positive impact of central bank digital

currency and private digital currency on international payment systems and

inclusive finance.

Zeng was invited to share her insights into the significance of the Digital

Currency Electronic Payment (DCEP) created by the People's Bank of China, the

implication of digital RMB currency on cross-border payment, and RMB

internationalization in countries in the Belt and Road Initiative. Zeng

highlighted that although the emergence of Libra was the catalyst for research

in digital currency among monetary and financial circles, the People's Bank of

China had already embarked research in 2014.

As China's first digital currency, DCEP combines the functionalities of digital

currency and electronic payment. DCEP supports offline payments and has

far-reaching impacts on inclusive finance and the internationalization of the

RMB. Through collecting real-time data on monetary flows, DCEP provides a

useful reference for the formulation and implementation of customized monetary

policies and improves transparency in policymaking. With the support of digital

currency, central banks can obtain transactional and behavioral data in unison,

effectively exercise financial supervision, combat illicit activities and even

specify the special use of digital currency during emergencies.

The chair also invited Zeng to introduce TCSA's innovative solution in the

field of monetary data analytics. Based on real-time monetary data, TCSA

synchronizes national economic, fiscal, monetary and financial data, which is

integrated into a national economic data brain. This solution enhances

government leadership over social and economic resources, improving the

timeliness and accuracy of economic decisions.

source: TCSA

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   Caption: Leanne Zengwas Invited to Participate in “Dialogue of Continents” Panel by RBWC