How the digital yuan stablecoin impacts crypto in China: Experts answer

10 Apr 2021

How the digital yuan stablecoin impacts crypto in China: Experts answer

How the digital yuan stablecoin impacts crypto in China: Experts answerThis is part one of a multipart series on blockchain and crypto in China.China has been discussing the possibilities of national digital currency for half a decade, and the Chinese digital yuan project — referred to as the Digital Currency Electronic Payment, or DCEP — has years of history. Back in 2014, the People’s Bank of China set up a research group "to study digital currencies and application scenarios." The research team was conducting a digital currency study and reportedly considering issuing its own digital currency. In 2016, the PBoC announced plans to de­velop a digital cur­rency of its own and started to hire blockchain experts. The same year, Chi­na’s State Coun­cil included blockchain technology in its 13th Five-Year Plan.

Facebook Comments

You can comment on How the digital yuan stablecoin impacts crypto in China: Experts answer using Facebook here

Disqus Comments

Join the discussion on How the digital yuan stablecoin impacts crypto in China: Experts answer using Disqus