The crypto-currencies today are at the heart of all discussions. Governments around the world are attempting to put regulations in place to monitor this growing market. Moreover, the price of Bitcoin has recently reached a new peak, with currently more than 7 000 dollars. Who would have thought, there are still a few years that the value of these digital currencies would increase as well.
If the majority of the major countries, including the United States and Japan have already adopted the technology, others such as China, are still nervous. The chinese government has banned the use of crypto-currencies and the ICO in the country. We have seen the closure of several companies specialized in the field.
A researcher from the PBoC encourages the creation of a digital currency issued by the central bank
The researcher of the people’s bank of China said that it was urgent that the country is launching a crypto-currency issued by the central bank. According to a report relayed by the South China Morning Post, Yao Qian, the head of the department of research of crypto-currencies, has explained the importance of the introduction of crypto-currencies in the economy of the country.
Solomon203, Wikimedia Commons
Such a measure, he said, would help to reduce the costs of transactions and expand financial services in rural areas, while increasing the effectiveness of the monetary policies of the PBoC.
The development of the digital economy is a must
Qian has made note at a forum held in Beijing the importance of developing a digital economy. For this, it is necessary to launch a virtual currency issued by the central bank. Calling the legal currency in digital “the jewel in the crown” of the technology industry financial, Qian argued that this would have a large impact on the future of finance.
The comments of this researcher come after reports indicated that the PBoC is already testing its own digital currency.
Source : CoinDesk