China plans to introduce a national digital currency

China wants to bring a official state digital currency at the start – as competition for non-state virtual currency Bitcoin. At a symposium on digital currencies in Beijing, the Chinese central bank announced that the new currency would be easier monetary transaction. That is good for the economy, also wanted to better understand financial flows.

Two other reasons called China’s central bank: On the one hand costs for the cash-supply can be saved. Secondly, money laundering going difficult with a digital currency.

Chinese consumers are very open when it comes to new cashless payment methods. Many pay small amounts to the two major Chinese online companies Tencent and Alibaba in daily life only with smartphone apps. On the other hand run many big money transactions in China still in cash.

And because the biggest bill, 100 yuan, cash must often be towed through the area en masse to pay, for example, to rent or large purchases. A digital currency, are easier with the transfers should be gratefully accepted by many Chinese.

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