A high official of the people’s Bank of China, said they will launch a “digital form” of the yuan. Mu Changchun ensures that the yuan digital may not be used to speculate. Everything would be ready to go to the launch of pilot programs.The criptomoneda planned by the people’s Bank of China shall not be subject to mechanisms of financial speculation, nor will support anchored to any basket of currencies. This was said this weekend Mu Changchun, chief of the division of research of digital currency from the Central Bank of the asian country.According to Changchun, the digital currency that it plans to launch the chinese government “[…] is different to Bitcoin or to the stablecoinsthat can be used to speculate or require the support of a basket of currencies”, review the South China Morning Post.Equally, the official said that they have already advanced into the design, a phase of functional tests and even tests for the process of payments with digital currency. Would be the implementation of pilot programs for the launch of the digital currency, highlights the same source.
Background
The asian country has been making progress in the plans for the launch of its own criptomoneda this 2019. Among these, stands out the approval of the law for the use of the cryptography, at the end of October.This legal instrument seeks to lay the groundwork for the launch of the digital currency china, without this implying the easing of trade with cryptocurrencies in the asian country.The launch of this legal instrument came after president Xi Jinping raised the need for the asian country to lead the development of blockchains. The president, in a speech before the Communist Party of China, emphasized on the potential of blockchains as an emerging industry.