China’s central bank, the People’s Bank of China (PBOC), is “racing to launch a digital currency.” In doing so it is aiming to rapidly tighten runaway domestic currency flows while also seeing off perceived challenges from other global digital payment platforms, especially Facebook’s Libra. The PBOC could also be hoping that its new digital currency will, eventually, help the RMB usurp the global dominance of the US dollar. The claims were made in the China Blockchain Report published this week by Forkast.News, a Hong Kong-based emerging technology-focused media and research platform. The report argues, in some ... (full story)