In the last two days, China’s state media People’s Daily published two reports on its central bank digital currency (CBDC), also known as digital currency / electronic payment (DC/EP). One of the stories was aimed at the general public, including cartoons. Perhaps this indicates that tests might ramp up, or it may be a response to the leaked screenshots last week.
The more interesting piece was a widely syndicated analytical article that explains that the renminbi will be used internationally for trade. It explicitly states it will “have a strong impact on dollar hegemony”.
Like cash, the digital yuan cannot be refused as payment, and it borrows features from the blockchain.
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