China’s CBDC Research Delayed Due To Coronavirus Outbreak; Will It Launch In 2020?

2020-2-26 17:24

China’s digital payment system will “most likely” not launch in Q1 2020, sources. The outbreak of the CoronaVirus (COVID-19) in China affecting blockchain operations.

According to local media, Global Times, a reliable government resource has confirmed that the planned launch of its digital currency electronic payment (DCEP) will not launch in the first quarter of 2020 due to the spread of CoronaVirus. No tentative dates have been offered on the launch date, but the official confirmed the DCEP will be launched this year.

A source close to the project's development of the DCEP confirmed the outbreak of the virus delayed the launch of the payment system. Speaking anonymously, the official said,

“The coronavirus outbreak has led to postponed work resumption in government institutions, including the People's Bank of China (PBC). Policymakers and research staff involved in the DCEP project are no exception, which weighs on the development process.”

The project, which was set for launch in this quarter, has slim chances of actually launching as the outbreak of the virus stalled operations in China. The DCEP will replace physical cash, offering citizens in China a digitized payment system – a digital yuan.

‘China’s DCEP will launch in 2020’

Despite the delays, the report states the developers still have the ability to pull off its launch later this year. Global Times also interviewed Cao Yin, vice director of the Advanced Research Institute of Blockchain, at Tsinghua University, a close development partner with the government in the DCEP project. Cao said,

“The central bank has been preparing for the launch both technologically and theoretically for a long time. The technological roadmap has been laid out already.”

The People’s Bank of China (PBoC) is expected to offer the public information on the recent developments of the project before the end of March. However, this seems unlikely with only a month remaining, the official said.

CEO of crypto company BankLedger, Shentu Qingchun, believes the delay provides a silver lining for the project as users witness the advantages of using digital currencies instead of contaminated cash.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Digital Rupees (DRS) на Currencies.ru

$ 6.38E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $6.38E-5 - H: $6.38E-5
Капитализация $32.611k Rank 99999
Доступно / Всего 510.803m DRS

launch due 2020 coronavirus quarter planned digital

launch due → Результатов: 126


A licensed utility provider to launch the first token supporting renewable energy projects: meet LCG Energy

LCG Energy is the first utility provider aiming to push the adoption of renewable energy projects through blockchain technology and green investments. After hitting a record revenue of €40 million in 2019 and forecasting an increase to €200 million due to several strategic partnerships, the company is on its way of acquiring renewable energy projects […] The post A licensed utility provider to launch the first token supporting renewable energy projects: meet LCG Energy appeared first on NullTX.

2020-2-13 23:15


Фото:

Is Japan Entering the Central Bank Digital Currency Space Too?

Recent reports indicate that Japan might be moving towards launching its own CBDC, although uncertainty remains high due to reports that deny the decision. Japanese lawmakers might be moving in on the crypto space Ever since Facebook confirmed the rumors that it plans to launch its own cryptocurrency, lawmakers, regulators, and central banks around the world started taking the crypto sector a lot more seriously.

2020-1-24 14:32


Cardano teams with COTI to provide ADA merchant payment solution

The Cardano Foundation, the overseer of the 3rd generation Cardano blockchain platform and COTI, a DAG-based blockchain protocol, announced today the development of an ADA token payment gateway. The offering – due to launch in November – will allow merchants to accept ADA payments with a near-instant settlement into 35 fiat currencies directly into their […] CryptoNinjas: Cardano teams with COTI to provide ADA merchant payment solution

2019-10-24 19:18


Bitcoin prepares for high volatility in the vicinity of Bakkt’s futures contracts launch

In only three days Bakkt will introduce its long-awaited Bitcoin futures contracts. As the date approaches, indicators predict that Bitcoin may soon experience high levels of volatility. Bakkt Bitcoin futures Following several delays due to regulatory concerns, Bakkt, a subsidiary of the Intercontinental Exchange (ICE), finally received the green light from the U.

2019-9-20 13:45


Фото:

Binance U.S. Opening Registrations and Deposits on September 18

Binance has officially announced that its U. S. exchange will start accepting registrations and deposits from September 18, 2019. The exchange has been trying to launch an American arm for quite some time; most exchanges operating outside of the United States have geoblocked the region due to a burdensome regulatory process, September 12, 2019.

2019-9-13 17:00


SDAT Exchange ICO ICO

SDAT Exchange is the world’s first Ultra-High-Speed Decentralized Exchange focused on partnering with institutional investors to solve traditional business tokenomics utility needs! SDAT builds an orderly private placement process, utilizing SDAT token as the medium to fairly disseminate investment quota to members and allow members to have appropriate access to roadshows and due diligence.

2019-9-7 21:33


Фото:

Facebook’s Libra partners remain cautious amid growing scrutiny from regulators

Facebook‘s Libra partners have reportedly signed non-binding agreements, meaning they’re not obliged to promote or use the digital token and can abandon the project if they decide to do so. According to the New York Times, which cites anonymous executives from seven of Facebook‘s partners, some of the companies are being cautious about associating themselves too closely with Libra due to the company’s ongoing issues with regulators.

2019-6-26 11:25


Tron CEO Justin Sun Says Libra FOMO Could Cause a Huge Bull Run for Crypto

The cryptocurrency community is today busy with the launch of Libra, a cryptocurrency launched by social media giant, Facebook which has billions of users globally. While everyone is busy giving their opinion of what Libra may be like, Tron CEO Justin Sun sees a huge potential bull run for the industry due to a FOMO […] The post Tron CEO Justin Sun Says Libra FOMO Could Cause a Huge Bull Run for Crypto appeared first on ZyCrypto.

2019-6-18 16:59


Weiss Ratings Downgrades EOS Due to Centralization Concerns as Cardano (ADA) Looks to Shine

Weiss Ratings Downgrades EOS Rating EOS’s technology score has been downgraded by Weiss Ratings after several months in which the network didn’t do anything to improve its centralized network. According to Weiss Ratings, it is now up to Cardano (ADA) to launch a truly decentralized Proof-of-Stake (PoS) blockchain. EOS DOWNGRADE: #EOS has serious problems with […]

2019-6-8 19:36