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People’s Bank of China Ramps Up Blockchain Tech Group

It is part of a major pursuit to launch a national digital currency

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  • Written by  Banking Exchange Staff
People’s Bank of China Ramps Up Blockchain Tech Group

The People’s Bank of China is focused on hiring experts on Blockchain Technology. According to Coindesk, they first launched a digital currency research team in July and are adding at least four new engineers to the team. It is part of a major pursuit to launch a national digital currency.

The technology is aimed at issuing a digital token and can be “stored and transacted in a peer to peer fashion,” according to Coindesk.

With the world’s second largest economy investing in a digital currency, and other countries likely following suit, banks of all sizes need to invest in tech structures that can adapt quickly to changes in digital currency use.  

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