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People’s Bank of China Calls for Blockchain Tech Adoption

The tech departmental head of the People’s Bank of China (PBoC) has called for commercial banks to embrace blockchain technology in digital finance branch, according to reports by financial companies in the framework of  Shanghai forum.

![blockchain adoption in china][1]Photo: Pixabay

By the way, the central bank of China is actually developing its own digital yuan, which as it is expected to be launched in the nearest time. The working process on its own currency was triggered by news about Facebook’s Libra project.

This news about China’s plans pushed the bitcoin prices up by more than 16 percent the prior day, to touch the border more than $9,900. So, the wide-spread cryptocurrency gained over the weekend by near ⅓.

One should also keep in mind, that not so long ago China had completely opposite opinion. This fact had repeatedly drew the bitcoin prices down.

As for the cryptocurrency rates for Monday, they are as follows:

  • Bitcoin eased by 2.48 percent, to $9373;

  • Ethereum slipped by 1.96 percent, to $182.85;

  • Ripple lost 0.53 percent, to $0.2966;

  • Bitcoin Cash added 0.91 percent, to $265.70;

  • Litecoin descended by 3.91 percent, to $58,27 at 13.42 GMT.

    1. /files/filemanager/image/For_Analytics_21/blockchaincryptobitcoin_pixabay_2810.jpg