China Surprises World with Crypto Announcement
Beijing — China surprised the cryptocurrency world yesterday when it announced it has a national crypto ready to launch. The Peoples’ Bank of China reported that it had a working model of a high-frequency cryptocurrency in the prototype stage after 5 years of work. Like Facebook’s Libra, the China cryptocurrency is designed to facilitate transactions and increase adoption among merchants. However, Libra’s halt on progress leaves a void that can easily be filled by another crypto.