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China is one step away from the creation of the National digital Cryptocurrency (CryptoYuan)

China is still at the stage of developing the state digital currency, the head of the state research center of China told reporters.

According to Zhang Yifeng, head of China Banknote Blockchain Research Center, China is still working on the creation of a national digital currency, but the timing of the launch of a new tool is not yet known.

The state organization China Banknote Blockchain Research Center was formed on the basis of China Banknote Credit Card Industry Development, which is subordinated to China Banknote Printing and Minting Corporation, a state corporation engaged in coinage and printing of bank notes of the renminbi.

It should be noted that Mr. Yifeng’s comments agree with the statements of the former head of the People’s Bank of China, Mr. Zhou Xiaochuan, who noted at the March press conference that the launch of the state digital currency in China, operating on the basis of blocking technologies, is unavoidable.

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