Chinese Blockchain Conducting Objectives To Be The 'SWIFT' Of Stablecoins And CBDCs

A Hong Kong-essentially based mostly blockchain firm has launched a digital payments draw geared toward bridging the outlet between stablecoins and Central Financial institution Digital Currencies (CBDCs).

Red Date Know-how, the blockchain infrastructure firm which is furthermore leading one in every of China’s blockchain efforts, launched the In vogue Digital Rate Network (UDPN) on Jan. 19 in some unspecified time in the future of the World Financial Dialogue board (WEF) 2023 meeting in Davos, Switzerland.

<em>A high-stage overview of the UDPN architecture depicting CBDC systems connecting to off-chain “transaction nodes” which in turn connect with the on-chain “validator nodes.” Describe: UDPN whitepaper.</em>