According to recent information, China’s e-yuan will roll out in early 2020, and it will be very cautious, initially only focusing on consumer spending.
Recent reports regarding China’s upcoming cryptocurrency claim that Beijing is preparing to launch the so-called ‘e-yuan’ in early 2020. This will be the world’s first digital sovereign currency. However, the reports also indicate that China plans to be very tentative with its new coin and the initial rollout process.
The new technology is bound to be very disruptive, which is why China plans to take each step with extreme care, and initially focus on consumer spending.
China taking the lead in the blockchain sector
As many are likely aware, there are many among the world’s largest monetary authorities that are currently studying cryptocurrencies. Some of them are even planning of creating their own versions of digital money. However, this time, the People’s Bank of China is taking the lead, likely due to concerns about Bitcoin and Facebook’s Libra.
Just like the space race from…