After five years of research, the China Finance 40 Forum (PBoC) is on the cusp of unveiling its own digital currency, according to deputy director Mu Changchun . Speaking at the People's Bank of China , Mu Changchun said the cryptocurrency would operate on a two -tier basis, separating PBoC from commercial banks, to support blockchain 's "complex economy with a vast territory and a large population". Despite the optimistic statement by Mu, China has not announced a precise date of launch of digital currency. He added the digital currency would be suitable for "small-scale retail high-frequency business scenarios". No precise launch date was given.
After five years of research, the China Finance 40 Forum (PBoC) is on the cusp of unveiling its own digital currency, according to deputy director Mu Changchun . Speaking at the People's Bank of China , Mu Changchun said the cryptocurrency would operate on a two -tier basis, separating PBoC from commercial banks, to support blockchain 's "complex economy with a vast territory and a large population". He added the digital currency would be suitable for "small-scale retail high-frequency business scenarios". No precise launch date was given.