As it turns out, all the excitement may turn out to be a bubble. Or is it not? The Global Times refutes the claim that a central-bank-backed Chinese digital currency is soon to be launched. That's contrary to the recent news we've been getting. Let's see what happens next!
A cryptocurrency issued by the central bank? Bitcoin was invented by Satoshi as a currency which can't be controlled or manipulated by the central banks. That was one of the main purposes behind its creation. And now we have central banks (China, Venezuela.etc) creating digital versions of fiat currency, and calling them as cryptocurrencies.