People's bank of china reportedly testing it's own cryptocurrency . China could be the first country in world to make it's national cryptocurrency . China will running mock transactions between it's commercial bank using cryptocurrency .
Benefits of this step
China has very high population and lack of infrastructure , millions of chinese who don't have easy access to the service
provided by convectional banks. Cryptocurrency will ease the banking services provided in China. The transaction fee will
also reduce due to use of cryptocurrency .
Digital currency will provide ease of the traceability of money and reduces the corruption . Which will provide a economic
growth of the country .
China will use existing bank system with cryptocurrency
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