When it comes down to developing a central bank digital currency (CBDC), perhaps no country is more advanced than China. Upon carrying out several tests in recent months, the People’s Bank of China said that the interest in the innovative initiative is surging, but bitcoin could also have a vital role in that.
BTC Behind the Surging CBDC Demand?
Although some reports claim that four of every five central banks are currently working on launching their own CBDC, China has been at the forefront of that trend for years.
In a recent interview, Wang Xin, a research bureau director at PBoC, noted that the Chinese population is increasingly more interested in the digital yuan, and “everyone is paying close attention.”
Part of the reason for that could be attributed to the fact that “more and more central banks in the world [are] participating in the development of domestic digital currencies.”
However, Xin also believes that bitcoin could also have a role. More specifically, he asser
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