Pan Gongsheng, Governor of the People's Bank of China: Technologies such as smart contracts and decentralized finance will drive the evolution and development of the cross-border payment system.

The article "Firmly Implementing Global Governance Initiatives and Continuing to Promote Global Financial Governance Reform and Improvement" was published by Pan Gongsheng, Governor of the People's Bank of China, in "Seeking Truth" magazine. The article states that the cross-border payment system is the "artery" of global currency and fund circulation, and it is an important foundation for promoting international trade and investment, maintaining financial stability, and supporting the international monetary system. The evolution of the international monetary system towards the coexistence of a few sovereign currencies and the rapid development of digital technology will promote the diversified development of the cross-border payment system, which in turn will accelerate the transformation of the international monetary system.