China leads in race for digital currency

Deutsche Welle , October 5, 2020, 0 Comments Imagine going to the bank to take out cash, except without going to the bank and without the cash. If the Chinese central bankࢀ™s plan for a digital yuan succeeds, the future could look something like that for everyone. Since early this year, China has gradually ratcheted up testing of its first central bank-backed digital currency, known there as DCEP, or ࢀœdigital currency electronic payment.ࢀ While other countries have made similar attempts to launch a digital sovereign currency, moves by the worldࢀ™s second-largest economy hold a higher level of significance. ࢀœIn the…