What is the digital currency called in China?

3 answers

• Dec 16, 2021 · 3 years ago
  In China, the digital currency is commonly referred to as the Digital Yuan or e-CNY. It is a central bank digital currency (CBDC) issued and controlled by the People's Bank of China. The Digital Yuan operates on a centralized system, allowing the government to have more control over its circulation and usage. It is designed to complement the existing fiat currency and aims to provide a more secure and efficient means of payment and settlement.
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• Dec 16, 2021 · 3 years ago
  The digital currency in China is known as the Digital Yuan. It is a form of electronic money issued by the central bank of China. The Digital Yuan is backed by the Chinese government and is intended to be used as a legal tender for everyday transactions. It operates on a blockchain-based system, which ensures transparency and security. The Digital Yuan is gradually being rolled out across the country, with pilot programs and trials taking place in various cities.
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• Dec 16, 2021 · 3 years ago
  The digital currency used in China is called the Digital Yuan. It is a government-backed cryptocurrency that aims to replace physical cash in the country. The Digital Yuan is issued and controlled by the People's Bank of China, making it a centralized digital currency. It operates on a permissioned blockchain, allowing the government to monitor transactions and prevent illegal activities. The Digital Yuan is still in the testing phase, with trials being conducted in several cities. It is expected to be fully launched in the near future.
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