China’s central bank — the People’s Bank of China — has developed a prototype of a cryptocurrency that it could end up in circulation in the near future. It would be introduced alongside the China’s primary currency the renminbi (also called the yuan). China will be simulating possible scenarios and running mock transactions using the cryptocurrency with some commercial Chinese banks.
During this RTD Live Talk we discuss the role out of the new China state backed crypto and how it coincides with Bank of England Chairman Mark Carney call to get rid of the dollar as the international reserve currency. Find out more in this episode here: