Pakistan, Oct. 31 -- China is all set to launch its own digital currency and by doing so, 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).

Earlier, Chinese President, Xi Jinping embraced the blockchain technology in a statement before the public, saying that China should adopt the emerging blockchain technology.

Things are looking good for China's first central bank digital asset as the 13th National People's Congress has also voted for a cryptography law which will come into effect from 1st January 2020.

How, according to a report...