During the last couple of months, China has been showcasing an interesting approach towards Bitcoin and the other digital currencies available on the market, but also towards the blockchain network which is basically the system that powers everything up.
With this in mind, recent reports indicate that the People’s Bank of China, also known as the PBoC, is preparing to start up a development plan that will continue over the period of five years, meant to bring in improvements, upgrades and advancements in the country’s financial market. For long, China has been seen as one of the world’s most promising economies, given their huge market infrastructure, the billions of dollars-worth of investments being made in areas from all around the world, and their attitude towards small and big businesses. However, they’ve been fairly close-minded to the idea of digital currencies for a while now, due to the possible risks they may pose to the country’s own financial system. However, the Beijing Government will finally take the example of other countries and likely become a bit more open to digital currencies.