中国工商银行 President Says Technology Alone Cannot Give Digital Anchor Currency Global Influence

中国工商银行 President 刘珺 said technology alone cannot give a digital anchor currency global influence because that depends on national strength, even as digital currencies open new possibilities for cross-border settlement.

He spoke Oct. 21 at the inaugural annual conference on the digital yuan, held during the 2026 Financial Street Forum Annual Meeting. His remarks separated the potential of digital settlement from the factors that give a currency international standing.

For a digital currency to function as money, it needs credit that can be supported and honored, with responsibility clearly assigned, he said. Technology can reinforce trust in that credit, but cannot replace it.

He identified two risks to that foundation: algorithms or pegged assets without transparent oversight, and trust built on an impenetrable technical “black box.” Either could leave a digital currency’s value on weak footing.

Expanding the yuan’s international use would require more market participants, coordination among regulators worldwide and regulatory technology that keeps pace with change, he said.

He also addressed the tokenization of real-world assets, saying finance should remain focused on serving the real economy.