China, the world second largest economy is planning to launch its own digital currency, in a move to cut its circulation cost on paper money and improve its grip on money supply.
According to CNN, the People Bank of China (PBOC) has been studying digital currencies since 2014 and is reviewing what implementation would look like. However, it did not give a timeline for when the digital currency would be introduced.
http://www.brecorder.com/markets/fxmm/asia/274700-china-plans-to-launch-its-%E2%80%98digital-currency%E2%80%99.html
