Why is China's Central Bank Launching a Digital Currency?(ft. UChicago Booth Economist)

Just earlier this month, China announced that it intends to launch its own cryptocurrency, specifically one that is backed by the People’s Bank of China (PBoC) after four to five years of research. Many deemed that this is a response to Libra, a cryptocurrency project spearheaded by Facebook, as central banks around the world have expressed their concerns about the lack of central bank oversight for this specific project. But what exactly has been going on with PBoC’s cryptocurrency — and other blockchain projects, for that matter — throughout their research period? In order to find out, our Editor-in-Chief Angie Lau sat down with Professor He Zhiguo from the University of Chicago Booth School of Business to unpack this issue from the inside.