{"id":1950,"date":"2017-01-31T12:42:38","date_gmt":"2017-01-31T12:42:38","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=1950"},"modified":"2017-12-15T23:42:49","modified_gmt":"2017-12-15T23:42:49","slug":"china-blockchain","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html","title":{"rendered":"China Blockchain project for a new digital currency"},"content":{"rendered":"

People’s Bank of China (PBOC) is working on a <\/span>China Blockchain project<\/b> for a new digital currency.<\/span><\/p>\n

According to an article published by <\/span>Caixin<\/span><\/i><\/a> yesterday, the People’s Bank of China completed a project on 15th December during which it tested how transactions could work by using a <\/span>custom blockchain system<\/b>.<\/span><\/p>\n

The test was held together with major Chinese commercial banks including <\/span>Industrial and Commercial Bank of China (ICBC), Bank of China <\/b>and<\/span> WeBank<\/b>.<\/span><\/p>\n\n

The official press release reports:<\/span><\/p>\n

“The bank suggested the digital currency would not only reduce circulation costs but also increase transparency and curb money laundering and tax evasion.”<\/span><\/i><\/p>\n

Also, the official report just released explained that the new China Blockchain digital currency might be connected to the <\/span>Shanghai Commercial Paper Exchange <\/b>to create a <\/span>“national platform for bank bill transactions”<\/span><\/i>.<\/span><\/p>\n

Together with this new project the PBOC will also open a <\/span>digital currency research institute<\/b> for which it is looking for experts in big data, fintech, cryptography and distributed ledger technology.<\/span><\/p>\n

The official report shared by the PBOC governor Zhou Xiaochuan <\/span>in February<\/span><\/a>, also explained that the central bank was considering the distributed ledger as one of a few different technologies that can be allow it to create a new form of digital cash.<\/span><\/p>\n

Also, this project coincides with the current PBOC’s investigations into the most important bitcoin exchanges of the country, an operation that started in January and that has seen several startups doing a few changes to trading policies.<\/span><\/p>\n

Read more news about the China Blockchain projects <\/span>by clicking here.<\/b><\/a><\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

People’s Bank of China (PBOC) is working on a China Blockchain project for a new digital currency. According to an article published by Caixin yesterday, the People’s Bank of China completed a project on 15th December during which it tested how transactions could work by using a custom blockchain system. The test was held together […]<\/p>\n","protected":false},"author":2,"featured_media":933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101,468],"tags":[764,793,840,906],"yoast_head":"\nChina Blockchain project for a new digital currency -<\/title>\n<meta name=\"description\" content=\"People's Bank of China is developing a China Blockchain project for a new digital currency to be released in the next future.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Blockchain project for a new digital currency\" \/>\n<meta property=\"og:description\" content=\"People's Bank of China is developing a China Blockchain project for a new digital currency to be released in the next future.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/holytransaction\" \/>\n<meta property=\"article:author\" content=\"facebook.com\/ameliatomasicchiomarketing\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-31T12:42:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-12-15T23:42:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2013\/11\/china-bitcoin-downloads.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"322\" \/>\n\t<meta property=\"og:image:height\" content=\"240\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amelia Tomasicchio\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ametomasicchio\" \/>\n<meta name=\"twitter:site\" content=\"@holytransaction\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia Tomasicchio\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html\",\"url\":\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html\",\"name\":\"China Blockchain project for a new digital currency -\",\"isPartOf\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html#primaryimage\"},\"image\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html#primaryimage\"},\"thumbnailUrl\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2013\/11\/china-bitcoin-downloads.jpg\",\"datePublished\":\"2017-01-31T12:42:38+00:00\",\"dateModified\":\"2017-12-15T23:42:49+00:00\",\"author\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/eface1991a1e60913be2fff06e08e42c\"},\"description\":\"People's Bank of China is developing a China Blockchain project for a new digital currency to be released in the next future.\",\"breadcrumb\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html#primaryimage\",\"url\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2013\/11\/china-bitcoin-downloads.jpg\",\"contentUrl\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2013\/11\/china-bitcoin-downloads.jpg\",\"width\":322,\"height\":240,\"caption\":\"china bitcoin downloads\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2017\/01\/china-blockchain.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/holytransaction.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"bitcoin\",\"item\":\"https:\/\/holytransaction.com\/blog\/tag\/bitcoin\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"China Blockchain project for a new digital currency\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\",\"url\":\"https:\/\/holytransaction.com\/blog\/\",\"name\":\"\",\"description\":\"HolyTransaction's Blog - 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