Chinese government historically doesn’t believe in the western social media, search engine and other digital entities and now China’s central bank is reportedly building its own cryptocurrency in competition with Facebook Libra. Wang Xin, the director at the People’s Bank of China (PBOC) research bureau, speaking at an event, explains that the current wave of events is forcing the decision on to Chines people. Given the past history of how the Chinese government has dealt with different entities. China has never actually been supportive of Bitcoin or the cryptocurrencies since it threatens the already grieving Yuan and keeping the capital
