China Is Launching Its Own Digital Currency, Here's Why

China Is Launching Its Own Digital Currency, Here's Why

Aug 03, 2020
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China has begun testing a fully digital yuan in 4 of its cities in anticipation of potentially going fully digital in the future. Due to its lacking the credit card infrastructure of other countries and the success of app-based payment systems from Tencent and Alibaba, China is seriously considering abandoning paper money all together. How does a state backed digital currency differ from say, Bitcoin?

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