China To Launch Digital Currency
Edith Cheung: China ‘Definitely’ Will Launch Its Digital Currency In 6-12 Months
November 20, 2019
China To Launch Digital Currency
Edith Cheung: China ‘Definitely’ Will Launch Its Digital Currency In 6-12 Months
November 20, 2019

Edith Cheung, a local blockchain investor, has said that China will “definitely” deploy its new digital currency within the next six months to a year.

On November 20, it has been reported by CNBC that Edith Cheung has appeared convincing about the digital currency’s imminent arrival.

Cheung told:

“I think definitely within the next six to twelve months.”

Edith Cheung

China has revealed that it has been developing the virtual yuan for several years, but senior government officials have so far declined to state when it could become a reality. 

However, for Cheung, foreign powers should already be prepared to respond, as China looks to become the first country worldwide to issue a digital incarnation of its national currency. 

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She continued:

“I really think the United States needs to hurry up; to have a strong thinking and policy, at least a direction for virtual USD.”

Edith Cheung

So, earlier this month, another investor delivered a more bullish forecast for the digital currency rollout by claiming that it would appear in just three months’ time.

Likewise, China remains in the spotlight as the digital currency plans run in tandem with the official endorsement of blockchain technology. As announced by President Xi Jinping last month, the policy is still having a knock-on effect for Chinese blockchain projects, several of which have seen the value of their own cryptocurrency tokens rise considerably.

At the same time, Chinese state media more recently poured cold water on current levels of commitment to the blockchain. 

Thus, according to new statistics, only around 10% of the 32,000 businesses in China which claim to use the technology actually do.

Source: cnbc.com | cointelegraph.com


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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