The People’s Bank of China is considering the development of a national digital currency to begin next year. A report by Caixin on Monday said that the central bank was studying whether it should issue its own cryptocurrency, which would be backed by Chinese assets.
The People’s Bank of China is considering the development of a national digital currency to begin next year. Currently seeking six developers with advanced education in computer science, the central bank is already developing a prototype system for the currency although no exact date exists for the currency’s official completion.