As reported by 金色 财经 (Golden Finance), China’s ‘DCEP‘ digital currency was tested internally last night. It is said that these tests were conducted under the auspices of the agricultural bank and today’s report literally triggered an explosion in the stock markets.
Is this a real countdown of the launch of China’s national digital currency?
Under pressure from journalists, the agricultural bank informed only that the digital currency would follow the unified central bank arrangement, and the central bank would provide specific information.
The central bank has not yet provided any information, but the market has already reacted first.
Huijin, Julong and others exceeded the daily maximum, Weida Gao rose by 9.98%, followed by Sifang Jingchuang and others.
As we wrote in the article from 26. march ‘China is already close to the release of its own Digital Currency‘ China has already filed several patents on the central bank’s digital currency this year in cooperation with Alipay Information Technology Co. We already knew, and we felt that the readiness of the digital Chinese currency was essentially complete.
This month, China’s People’s Bank managed to organize as well a national telecommunications conference on monetary issues that took place on 3. April in Beijing. This meeting resulted in a call to strengthen the proposal at the highest level and to advance research on the development of the legal digital currency;.
Subsequently, on 10. April, the central bank held a press conference on financial statistics for the first quarter. On questions about the digital currency, Zhou Xuedong – the director of the central bank office said the central bank’s digital currency is currently governed by the original plan.
We think it really is a matter of time before China becomes the first country to officially launch and launch China’s National Digital Currency, and it will be very interesting to see the reaction of other world powers and economies.
If you are interested in the topic of national digital currencies, please also read our other articles:
- Revolution of Digital Currency coming, thanks to the COVID-19 pandemic
- Vice-President of International Monetary Fund talks about the Benefits and Risks of digital currency
- Bad Economic Forecast, have already forced the US to thinking about use of the Digital US dollar
- Banque de France began to explore the Digital Euro