12/08/19 11:14 UTC-4

The Central Bank of China has created its own cryptocurrency

CryptocurrencyThe Central Bank of China created its own cryptocurrency
The Central Bank of China created its own cryptocurrency

On August 10, at the China Finance 40 forum, a representative of the Central Bank of China announced that they had finished work on their own cryptocurrency. According to a press release in Shanghai Securities News, cryptocurrency has been prepared for almost five years.

 

Cryptocurrency from the Central Bank

Deputy General Director of the Central Bank of China, Mu Changchun, said that banking cryptocurrency is almost ready for an early launch. According to information, Central Bank experts have been researching blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
and cryptocurrency technology for about five years.

As reported, Mu Changchun said the new digital currency is about to introduce a two-tier operating system for maintenance. This innovation is associated with the complex economy of the country with a huge territory and large population. In addition, it was stated that the new cryptocurrency is suitable for different business scenarios, from large commercial organizations to small businesses.

At the same time, the latest cryptocurrency news reports that the Chinese crypto-project can strike a blow at the US economy. After all, the country has not yet adopted the rules of regulation and taxation of digital money.

The Central Bank of China has created its own cryptocurrency. Recall that India could lose about 13 billion US dollars if it bans cryptocurrencies.

Editor: Yuliya Soroka

See also: "Kakao Corporation launches its own cryptocurrency wallet"

#CentralBankofChina #cryptocurrency #bankingcryptocurrency #cryptocurrencyChina

Comments

Similar

23/08/19 22:00 UTC-4

Out: Libra founders are preparing an "escape" from the project

​The Libra Association (the organization that should develop Facebook’s cryptocurrency) has 28 members. They include such giants as Visa and Uber. Now at least 3 members are trying to get out of the project because of criticism from regulators.