4 July, Beijing -According to a report, PBOC Digital Currency Research Institute has been officially established as its name plate shows up in a building near Deshengmen, Beijing. The building hosts various subsidiaries of China Banknote Printing and Minting Company. The Digital Currency Research Institute has 7 departments. As reported previously, Yao Qiao and Di Gang will be the Director and Vice Director of the Institute.

PBOC Digitial Currency Research Institute is on the 9F of the building. Credit:cnbeta

Back in November 2016, the Institute has released a recruitment notice, seeking blockchain talents to develop bottom layer technologies concerning the issuance of digital currency. In December 2016, PBOC Official has elaborated the 6 reasons of issuing digital currency backed by central bank, signaling the central bank is catching up the speed. According to Caixin Report, the Institute is also a member of PBOC Fintech Committee.

Yao Qian, Director of the Institute, holds an open attitude to blockchain startups and proposes to implement “regulator sandbox” for ICO in June.