Quote from: Bananington on October 29, 2019, 05:38:41 PM

Has it been announced officially that the digital currency that will be released by Chinese central bank will be a cryptocurrency? Or is it merely an insinuation since China is positive about blockchain? I'll like to see a link to this news if it's legit. Nevertheless, even if it's crypto, definitely it's going to be a stable coin pegged to their FIAT currency and also highly centralized for easy tracking on how citizens spend their funds.

The only thing I could find is the follows:

https://cointelegraph.com/news/china-warns-against-cryptocurrency-speculation-amid-blockchain-hype

Quote

As Reuters reported on Oct. 29 quoting local news outlet the Peoples Daily, Beijings previously-announced support for blockchain should not be read as support for crypto.

The Peoples Daily is a publication under the direct control of the ruling political power, the Communist Party of China.

Blockchains future is here but we must remain rational, it wrote. The publication continued:

The rise of blockchain technology was accompanied by that of cryptocurrencies, but innovation in blockchain technology does not mean we should speculate in virtual currencies.

The veiled warning comes days after Chinese president, Xi Jinping, publicly pledged to make the country the worlds number one blockchain environment in a speech.

His words came along with China signing a new so-called crypto law governing various aspects of blockchain technology, to enter into force in January.

No idea what they mean by "the world's number one blockchain environment". It could be that they allow developers to code, that they allow mining, or that they are issuing their own coin.

We won't know for sure till January and the legislation is introduced.