• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

China’s Digital Yuan Ambitions Raise More Questions Than Answers

by CBDC Insider
August 15, 2021
in Asia, Business
Reading Time: 1min read
0
China’s Digital Yuan Ambitions Raise More Questions Than Answers
Share on FacebookShare on Twitter

As countries experiment with central bank digital currencies (CBDCs), China is the only large economy with an actively deployed CBDC: the digital yuan, or e-CNY.

China’s central bank recently announced that the e-CNY will no longer be limited to Chinese people or domestic businesses but can be used by foreigners in China, particularly at the upcoming Beijing Winter Olympics.

China will also explore the applicability of the e-CNY in cross-border transactions, so it may spread globally.

RELATED STORIES

Amid crypto winter, central banks rethink in-house digital currencies

Amid crypto winter, central banks rethink in-house digital currencies

January 24, 2023
Digital currency firm Amber reduces employee count in Hong Kong

Digital currency firm Amber reduces employee count in Hong Kong

January 22, 2023

Non-Chinese individuals and businesses need to decide what role, if any, the digital yuan will play for them. As China and other governments across the world adopt CBDCs, individuals should demand transparency on how they work, technically and legally.

First, what’s the point? How is a CBDC different or more valuable than existing forms of money (much of which is already digital anyway)? Is it all that different from money in a current account or payment platform?

CBDCs, like cash, are direct central bank liabilities, rather than commercial bank liabilities. Central banks can always print money so they would not fail in the same way a commercial bank or payment platform could. So CBDCs might arguably be a safer form of payment and currency.

Read more

Previous Post

How The Digital Currency Revolution Can Boost Financial Inclusion And Investment

Next Post

Digital Yuan Architect Says, CBDC can be Established on Ethereum Network

Next Post
Digital Yuan Architect Says, CBDC can be Established on Ethereum Network

Digital Yuan Architect Says, CBDC can be Established on Ethereum Network

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register