China to Launch its Own Digital Currency Soon

China is getting ready to launch its own digital currency according to a senior official at the People’s Bank of China (PBOC), China’s central bank; researchers at the bank have reportedly been working on the currency for five years; the digital currency would not be exclusively blockchain-based as most cryptocurrencies are but instead the PBOC would maintain a more neutral stance on which technology it decides to use; the PBOC would launch its digital token through a two-tier system, under which both the PBOC and commercial banks are legitimate issuers. Source.