China approves new law paves to launch its digital encrypted

Parliament passed China’s new law on consultation in preparing the country to launch its own digital out, according to official media reported late on Saturday.

The Chinese central bank may form a research team in 2014 to explore the launch of his digital own to reduce the cost of trading money traditional paper and enhance the control of policy makers on the money supply.

Since then I didn’t know about anything until last August when he announced a senior official at China’s central bank that the digital currency is almost ready. Forbes has reported financial of America, citing sources that the currency may be ready in 11 November next.

Then the official said the Chinese central bank (the death of Shang shun) last month: if a new digital currency proposed by China you will get some similarities with the work of (Libra) Libra of Facebook, and can be used across payment platforms key in China, such as: (WeChat) WeChat, and(Bhai) Alipay.

Said materials – the deputy director of the Department of payments, people’s Bank of China: the development work will help in the protection of the sovereignty of the country of foreign exchange with the expansion of commercial applications for these currencies.

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Quotes news agency New China (Xinhua) from the parliament to say: the law of consultation in China, which enters into force on the first of January, aims to “facilitate the development of the work of encryption to ensure the security of cyberspace and information”. The law stipulates that the state encourages and supports research and application of Science and technology in encryption, ensures confidentiality.

The encoded proposed of Facebook has raised concerns among global producers of it can quickly become a form of dominant on defense, digital, channels for money laundering due to the huge social network across the border.

Will LeBron digital currency backed by a reserve of assets in the real world, including bank deposits, securities, short-term government, which is maintained by a network of trustees. Structure aims to promote confidence and stabilization in the price.

Similar to the work of encrypted other, you will run the transactions Libres and by technology (book series), a series of huge problems of transactions maintained by a network of computers.

He said the Chinese President (Xi Jinping) last week: that the country accelerate the development of Technology (book series) the Blockchain as the fundamental innovation.

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