NEWS about the release of e-Yuan has attracted worldwide attention from investors, hoping that the cryptocurrency will reach heights to parallel those achieved by bitcoin.
The new currency, will share some features with cryptocurrencies including bitcoin and Facebook Inc.’s Libra, PBOC officials have said. allowing savers to track transactions of the new currency, manage their accounts and link the wallet to their existing bank accounts.
China’s central bank said the benefits of shifting to a government-run by digital payment will help combat money laundering, gambling, and terror financing. Digital currencies will also improve the efficiency of transactions in its financial system.