A New Digital Token of China is in its Final Stage 

More recently the authorities have advanced the development of the national token which promises to be a new competitor for the Libra coin, launched by Facebook. 

As Deputy Head of People’s bank claims, the creation of the blockchain platform, which is responsible for transaction processing, is coming to an end. 

The potential of Distributed Ledger Technology has been explored for five years, and, as a result, the regulators figured out that the launch of the new digital currency will become the part of chinese financial sector large scale modernization. 

The coin is planned to be released in a two-level software. Substantive level transactions will be under the control of the People’s bank system, the second one will be subject to the processing of the commercial banks as well. 

New digital currency will be available for those who can’t afford paying for goods and services via gadgets: now financial services will be opened to the provincies.