- 28 January 2021
- Posted by: Cryptovalues
- Category: Central Banks, World News
The implications of China’s digital yuan on a range of issues from privacy to political power.
China’s Digital Currency Adding Financial Data to Digital Authoritarianism
“China is pursuing global dominance in financial technology.
The country’s central bank, the People’s Bank of China (PBOC), is developing a digital version of the renminbi that it intends will replace its physical currency. Through this project, Beijing is aiming to advance China’s technical and economic prowess, strengthen Chinese Communist Party (CCP) control over the Chinese population, and counter U.S. financial influence around the globe. And while numerous central banks are conducting central bank digital currency (CBDC) research and pilots, China’s effort is the most advanced of any large, major economy to date.”
DOWNLOAD here CNAS-Report-Chinas-Digital-Currency-Jan-2021-final
Source:Center for a New American Security (CNAS)
Authors: Authors Yaya J. Fanusie, Emily Jin
Image credit: dreamstime