PBOC Chairman announced a cryptocurrency for China, under the ticker DCEP

DCEP will be based on Distributed Architecture and DLT and will concentrate on payment solutions.

PBOC (People’s Bank of China) Chairman commented ICO and Bitcoin Trading in the next way:

  • Bad ICOs and tokens should be put on hold;
  • Good ICOs and tokens should be tested and validated for the technologies and market application;
  • Further sanctions won’t be made in the near future.

ICO must not be a method to get super rich immediately. People’s Bank of China realize some technologies in ICO may have positive influences on real market economy, and PBOC has an open arm for that.

Test usage for DCEP may start next year. DECP stands for Cryptocurrency for Electronic Payment.

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