Full-Time Progress to Digital Money Studies in China

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Coronavirus from China is now infected by more than 1 million people. This virus, which affects human health, daily life, world economy … almost everything, spread to almost every country.

Officials in China have succeeded in controlling this virus by making radical decisions. Authorities are now re-evaluating projects delayed, disrupted, and slowed down by the coronavirus and are deciding what steps to take.

Digital Money Studies
The Central Bank of China held a special teleconference on money, gold and silver on Friday. This conference discussed how things like money, gold and silver were affected by the Coronavirus and what their future is.

One of the topics discussed during the teleconference was digital money. This concerns us. As it is known, China Central Bank has been trying to develop its own digital money for a while. The work done by the Central Bank slowed down for a while due to the coronavirus. But as life in the country almost returned to normal, the work of the Chinese Central Bank has begun to return to its normal course.

State Stable
According to the Global Times report, the Central Bank of China is very determined to continue working on full digital money.

At the teleconference held on Friday, the Central Bank announced that the research & development (R&D) work on digital money will be accelerated.

It seems that nobody knows exactly when China’s digital currency will be available at the moment. But the goal of the authorities is to make this project ready before the end of the year. We also know that this digital currency will be tested shortly with commercial banks such as the China Industrial and Commercial Bank.

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