China leads the way with digital currency, but other central banks have plans

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China looks to be first out of the blocks with a central bank digital currency, but experts say it appears to be a more domestic initiative compared with projects being collaborated on by the world’s other leading institutions The City of Shenzhen is distributing 10m yuan this week as part of the trial of the digital currency it is developing. While China is a clear leader in the race to release a central bank digital currency, other countries are not far behind, with Japan set to begin trials next spring. This week the People’s Bank of China distributed 50,000 “red...