Top Stories

Why central banks want to get into digital currencies

0


Intense interest in cryptocurrencies and the Covid-19 pandemic have sparked debate among central banks on whether they should issue digital currencies of their own.

China has been in the lead in developing its own digital currency. It’s been working on the initiative since 2014. Chinese central bank officials have already conducted massive trials in major cities including Shenzhen, Chengdu and Hangzhou.

“China’s experiment is very large scale,” said J. Christopher Giancarlo, former chairman of the U.S. Commodity Futures Trading Commission. “When the world arrives in Beijing next winter for the Winter Olympics, they are going to be using the new digital renminbi to shop and to stay in…



Source cnbc.com

Growth surges on hiring jump in hospitality

Previous article

Behind the campaign forcing changes at Kohl’s

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Top Stories