The CEO of Binance, Changpeng Zhao predicted that China’s digital Renminbi token (RMB) would be based on blockchain. In BlockShow Asia 2019, CZ shared his views about the digital currency in development by the People’s Bank of China. However, there are no official details about the currency but it will not be decentralized as Bitcoin. CZ thinks that the currency is going to be a blockchain-based version of RMB. He gave the reason for the same stating that the Chinese government wants to push RMB’s influence globally.
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