Friday, August 19
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Tag: Digital Yuan

Advanced Yuan – How Can it Function?

Advanced Yuan – How Can it Function?

Tech
China leads in many things, but currency is making news for its maiden digital currency venture, Digital Yuan. It is their project that has been in place since 2014. The PBOC - the country's central bank, has worked hard to develop it, and thus all credit goes to them. They appointed a research team in 2014 and worked hard to present the report in 2019. In 2020, they started the testing to embark upon a new currency that works like crypto but is a digital extension of the local money. It will help simplify the real world, reducing a good chunk of cash from the market. They also intend to become the advanced currency version, allowing everyone to enjoy the game. Thus, many people not in touch with the banks will enter the financial institutions' garb. Of course, if you want to deal wit...