China finding out blockchain application for forex-regulator – Reuters


SHANGHAI, Oct 27 (Reuters) – China will even more liberalise its funds markets and is finding out the application of blockchain and synthetic intelligence in cross-border financing and settlement, a senior overseas trade regulator stated on Sunday.

Facebook’s system for Libra has stirred significantly curiosity toward electronic currencies and China will utilize systems to minimise the charge of settlement whilst averting systemetic fiscal pitfalls, Lu Lei, a deputy head deputy of the State Administration of Overseas Exchange, explained to a discussion board in Shanghai. (Reporting by Samuel Shen and Ben Blanchard Enhancing by Lincoln Feast.)

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