(Yicai Global) Sept. 24 -- China has no timetable to roll out its digital currency and it could even be based on an emerging technology instead of blockchain, according to the central bank's governor.

The People's Bank of China could put the currency on blockchain or another future technology that prevails, Yi Gang said in a statement today. 

The PBOC needs to research, test, evaluate, and prevent risks, Yi added. If the cryptocurrency will be used in cross-border transactions, the bank must consider how to fight money laundering, terrorism, and tax fraud, he added. 

The goal is to replace a portion of M0, narrow money, instead of broader M1 or M2 money supplies, Yi said. The plan is to apply a two-tier system for the central bank and commercial banks, which would not change the way that currencies are delivered, he added.

Editor: Emmi Laine