Yuan will become the cryptocurrency of China

According to Donald Tapskott (executive director of the Blockchain Research Institute) in an interview with Bloomberg said that soon the Chinese yuan could become the official digital instrument for payment.

The director explained that after meeting with the vice-president of the Communist Party of China, who expressed the opinion of the head of the PRC, Xi Jinping, about blockchain technologies. The head, in turn, is a supporter of innovative technologies and is ready to introduce blockchain technologies in the country in the economy.

Despite the fact that Beijing places a ban on cryptocurrency activity of crypto exchanges in the country and soon all mining farms will be closed, the expert assures that it is not necessary to do this. After a couple of decades, China will have one single currency, the yuan - which will become the digital currency. Central Bank of China will take care of this.

It is noteworthy that the ban on mining in China did not affect the overall picture and rating. The country is still a major player in the cryptocurrency market.

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