People's Bank of China, (Chinese Central Bank, highest banking institution of the Country) has launched a recruitment campaign looking for blockchain experts, in order to start a project to develop its own digital currency, alternative to BitCoin.

In particular, the Bank has opened six job positions for engineers who will have the task of designing the software and hardware framework of the new digital currency. Candidates will be selected among experts of blockchain technology, big data, encryption and system design.

The recruitment follows a statement by the governor of Chinese Central Bank, Fan Yifei, who recently said that the best way for governments to exploit the technology of digital currencies is to create their own currency, which remains under the control of central banks.

As a matter of fact, Chinese government's efforts converged towards the attempt to create soon its own digital currency: this goal has become public knowledge in early 2016, when it was revealed that the Chinese Central Bank had set up a 'special research group” aimed to look into the regulatory framework in order to allow the issue of a digital currency nationwide.

According to the Chinese Central Bank, the use of digital currency would result in countless advantages, including costs reductions, greater transparency, curbing tax evasion, and a better monetary control.

Although there is still not any agenda and relevant timelines, it is plausible to believe that China will soon have its own digital currency, which will be proposed as an alternative to the more popular BitCoin.

For more information: asiandesk@blblex.it