Bitcoin is the world’s largest digital currency by market cap. Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system known as a blockchain.
China has been trialing payments of its digital currency in specific areas, the central bank governor said on Tuesday, paving the way for its becoming the first country to establish a national electronic payment system. Central banks in Japan, the United States and Europe have been vigilant of China’s lead in issuing a national digital currency, as it could threaten the long-standing position of the U.S. dollar as an international reserve currency. The digital yuan is currently under trial in a handful of cities including Shenzhen, Suzhou, and Chengdu, People’s Bank of China Governor Yi Gang sai…
