China’s Crypto Steaming Ahead Of Its Competitors
The development of The People’s Bank of China (PBoC) cryptocurrency seems to be moving forward faster than expected by the cryptocurrency community as it plans to beat Facebook’s Libra to market.
It was later revealed that the central bank’s Digital Currency Research Lab is now developing the system in a closed-door environment away from PBoC’s downtown Beijing headquarters.
It seems that the team as been working separately from the main office of PBoC to allow it to concentrate on the development of the cryptocurrency unhindered by any detractions that might occur if it were developing it in PBoCs’ main office.
With its rapid progression, many are wondering when does the world expects to see the central bank digital currency, some are already speculating that we should already expect the Chinese cryptocurrency before the launch of Libra which is slated in the first half of 2020.
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