A Blockchain in China? Maybe in 2018 by janasos

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· @janasos ·
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A Blockchain in China? Maybe in 2018
2018 predicts that China will surprise the world (again) and change the world of cryptocurrencies.

https://i1.wp.com/criptotendencia.com/wp-content/uploads/2018/01/China-Blockchain-2018.jpg?w=847&ssl=1

Personally I think that in 2018 China will be the first major country to launch a digital currency from the central bank (CBDC), and we will also see a large-scale blockchain implementation in the retail and logistics industry with a blockchain solution developed by Chinese companies.

Now, the predictions of Chun Yin Cheung, partner in the practice of risk insurance of PwC China.

A Chinese CBDC

Although cryptocurrency exchanges were banned in China in September this year, the country has always adopted a positive attitude toward the digital currency and the central bank block chain, actively carrying out relevant research.

In February 2016, the President of the People's Bank of China (PBOC), Mr. Zhou Xiaochun, admitted during an interview that the Chinese government has been investigating the adoption of CBDC for a long time. On December 27 of that year, blockchain was included in the "13th Five-Year National Computerization Plan". The government affirmed the value of blockchain, and since then it has reached the level of our national science and technology strategy.

Technically, China is ready to launch the first CBDC, as the PBOC has established a dedicated digital coin research group in 2014 to study the issuance of digital currencies and the business operations framework they would need to support the launch of such technology.

In January 2017, China's central bank successfully tested the digital notes exchange platform.

According to an article published in Tsinghua Financial Review, a digital currency was used to exchange notes between commercial banks, including the Industrial and Commercial Bank of China, the Bank of China, WeBank, the Shanghai Pudong Development Bank and the Hangzhou Bank.

In July, the Digital Currencies Research Institution of the Central Bank began to operate officially as a separate business unit within the PBOC.

Source: CoinDesk
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@cheetah ·
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