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Doubts Surface Over China Central Bank Currency Plan

China Central Bank Currency Meets Fresh SkepticismThe central bank has announced it will “continue its solid study on the digital currency and keep monitoring the latest development of digital currency initiatives around the world,”reported Ejinsight.The next stage, according to Deputy Governor of the PBoC Fan Yifei, is to test the digital asset in a controlled environment in selected geographical regions, starting with Shenzhen. But the project’s application is now being met with fresh skepticism from ex PBoC officials.The former governor of PBoC Li Lihui explained that distributed ledger technology may not be the best choice for backing a national currency.If China is to launch its fiat digital currency soon, the scalability limitation and the transaction inefficiency of the c...