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Direct: A senior central bank official confirmed that the bank was almost ready to issue its own sovereign digital currency.
Mo Changchun, deputy director of payments at the People's Bank of China, said at a weekend conference that the virtual currency was "almost ready" for the show.
People & # 39; s Bank has been studying this virtual currency for about five years.
The decision to create another cash reserve would be similar to the idea being examined by the Swedish central bank.
China's central bank will launch its digital code via a two-tier system in which the People's Bank and commercial banks act as legitimate issuers.
The People's Bank said it would not rely exclusively on blockchain technology, but would maintain a more neutral stance on the technology it would decide to use.
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