China To Launch It’s Digital Currency Within 6 to 12 Months

China Digital Currency

China Digital Currency

China might deploy its new digital currency within the next six months to a year, a local blockchain investor has said.

Edith Cheung, partner at blockchain-focused venture capital fund Proof of Capital, speaking to CNBC on November 20th looked convinced about the digital currency’s imminent arrival.

“I think definitely within the next six to twelve months,” she said;

China revealed 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.

Cheung reasons that China looks to become the first country worldwide to issue a digital incarnation of its national currency.

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

Earlier this month, another investor’s forecast was that the digital currency would appear in just three months’ time.

Remember that China recently had an official endorsement of blockchain technology announced by President Xi Jinping last month.

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