16/03/17
Banks of the People's Republic of China started to test a digital currency, developed by the People’s Bank of China (PBoC), BTCManager.com reports.
It will be used for interaction with a regulator, government authorities and private companies for preventing financial fraud and illegal activities.
The cryptocurrency should allow PBoC to regulate how money flows between banks.
The project is partially based on decentralization technologies. However, its main distinctive feature compared to Bitcoin is complete dependence of the digital coin on the regulator.
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