What is the name of the digital money used in China?

3 answers

• Nov 27, 2021 · 3 years ago
  The digital currency used in China is called the Digital Yuan, also known as the e-CNY. It is issued and regulated by the People's Bank of China, the country's central bank. The Digital Yuan is designed to be a digital version of the Chinese yuan, the official currency of China. It operates on a centralized system, allowing the government to have control and oversight over its usage. The Digital Yuan is being gradually rolled out in various pilot programs across China, and it aims to provide a more secure and efficient means of payment for individuals and businesses.
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• Nov 27, 2021 · 3 years ago
  In China, the digital money that is widely used is known as the Digital Yuan. It is a government-backed digital currency that is being developed and tested by the People's Bank of China. The Digital Yuan is designed to be a digital version of the physical currency, the Chinese yuan. It operates on a centralized system, which means that the government has control over its issuance and circulation. The Digital Yuan is expected to provide a more convenient and secure way of making transactions in China, and it is being gradually introduced to the public.
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• Nov 27, 2021 · 3 years ago
  The digital currency used in China is called the Digital Yuan. It is a central bank digital currency (CBDC) issued by the People's Bank of China. The Digital Yuan is designed to replace physical cash and provide a more efficient and secure means of payment. It operates on a centralized system, allowing the government to track and monitor transactions. The Digital Yuan is currently being tested in various pilot programs across China, and it is expected to be fully rolled out in the near future. As an employee of BYDFi, a digital currency exchange, I can say that we are closely monitoring the development of the Digital Yuan and its potential impact on the cryptocurrency market.
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