PBC may launch digital currency before Libra

From globaltimes.cn

Beijing could soon roll out its central bank-backed digital currency after five years of research, industry insiders said. The launch could be earlier than the cryptocurrency Libra developed by US company Facebook, which is scheduled to be released in 2020. Some observers said that the move shows that China's central bank aims to construct a different payment system that challenges US dollar hegemony. It will also help the nation gain a firm start in the increasingly competitive digital economy race. "There are positive signs that the digital currency electronic payment (DC/EP) will be released soon. Officials from ... (full story)