The Asian Giant seems to start lifting their attention, slowly and partial as the COVID-19 continues, to other areas of interest focused in making their economy getting back on track again as the Corona Virus is hurting and until found definitive cure will still, to blockchain initiatives they left when the pandemic disease started. China developments in blockchain and in the issuance of their digital Yuan, that will substitute the paper money are advanced like the media suggests and this week more news about has been spotted out!
When the Chinese President endorsed the people to embrace blockchain last year was clearly that the country was prepared to be pioneer on the field and turning the blockchain a significant part of their developments as it would be used to develop the industry and vital services from their economy. Its possible now to follow some news about the App released by the Agricultural Bank of China, one of the partners of the PboC (People's Bank of China) that could be the one which will be used to test their digital Yuan across the country.
The country also announced their blockchain committee board, and companies such as Baidu and Tencent a part of it and will give support to the government in the matter concerning blockchain. Also next week the country will release their blockchain platform where companies can deploy their blockchain apps more cheaper and focused in developing their services and industry also turning blockchain more visible and affordable to the firms and to the public.
Since 2014 China research about a possible Central Bank digital currency started and in the past years they appointed developments to it issuance and before COVID-19 erupted in Wuhan developments in the field was advanced stage!
So the nest weeks will be very interesting to follow and see what Xi Jinping government prepared to their nation and to the world.
Republished article original found at Uptrennd platform from my authorship.
**free image from pixabay.com with royalty rights for commercial purposes here!
