At the moment, where there is a debate in the whole world about virtual currency with security and traditional currency, there is news that China can launch its crypto currency by the end of this year. It is being said that China's cryptocurrency is going to compete with the world's largest social media company Facebook's cryptocurrency libra.
According to a business magazine report, People's Bank of China (PBOC) is working fast on this digital currency. The report claims that China's virtual currency should be presented before Facebook's libra. At the same time, it is being said that its trial has also started in China. However, the name has not been revealed yet.
According to media reports, four major state-run banks of China will be allowed to use this cryptocurrency first. At the same time, it is also being said that in future Alibaba, Tencent (PubG company), Union Pay and an unknown company will also be included in it. It is being told that China has been working on cryptocurrency since 2014. And it seems from this news that its preparation has been completed.
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