China is rushing towards the development and distribution of a central bank digital currency while the rest of the developed world dithers along at a leisurely and cautious pace.
From comments made by the head of the People’s Bank of China research bureau, Wang Xin, at a briefing late last week it would appear the pace of China’s experimentation with a digital currency, via the Digital Currency Electronic Payment (DC/EP), is accelerating.
It has already distributed – given away – about 200 million yuan ($40 million) in pilot projects in its major cities. Read more…..
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