One of the former employee People’s Bank of China (the central bank of the China), Paul Schulte has predicted that it will launch a state-backed cryptocurrency and issue it to seven institutions. They are namely the Industrial and Commercial Bank of China, the Bank of China, the Agricultural Bank of China; Alibaba and Tencent; and Union Pay, an association of Chinese banks, will receive the cryptocurrency. He also added that these institutions will be responsible for dispersing the cryptocurrency to citizens.
Central Bank Of China To Issue Its Crypto To 7 institutionsIncryptsAug 28, 20190
Sep 19, 2019