I think the Chinese government will not hesitate to officially release its digital renminbi. They understand the advantage of using the central bank’s digitized currency in such a large and powerful state. This is a good trump card in the yuan war with the dollar. Although the dollar is already predicted to fall for other reasons, this may be an additional reason for its fall.
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Digital Yuan’s Backend Development Complete, Says Chinese Official
A former senior official of the People’s Bank of China said that the country has completed the backend architecture development of its digital currency. See more for yourself here.
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