Pak Exam MCQs
A. China
B. USA
C. UK
D. Canada
Answer & Solution
Option: A
Explanation :China launch its own digital currency and by doing this, he is becoming the first country in the world to issue its Central Bank Digital Asset.
According to Huang Qifan Executive Vice President of the China International Economic Exchange Centre, the currency will be named DCEP (Digital Currency Electronic Payment).
He made the announcement at the inaugural Bund Summit, which held from 27th to 29th October 2019. He said that the People’s Bank of China has been working on rolling out the cryptocurrency for the past 5-6 years.
China’s digital currency has similarities to Facebook’s currency Libra and crypto currencies like Bitcoin. Like those forms of payment, the Chinese currency will be stored in a digital wallet.
Explanation :China launch its own digital currency and by doing this, he is becoming the first country in the world to issue its Central Bank Digital Asset.
According to Huang Qifan Executive Vice President of the China International Economic Exchange Centre, the currency will be named DCEP (Digital Currency Electronic Payment).
He made the announcement at the inaugural Bund Summit, which held from 27th to 29th October 2019. He said that the People’s Bank of China has been working on rolling out the cryptocurrency for the past 5-6 years.
China’s digital currency has similarities to Facebook’s currency Libra and crypto currencies like Bitcoin. Like those forms of payment, the Chinese currency will be stored in a digital wallet.
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