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Duniyadari. 29 October 2020
In today’s show, Prateeksha discusses China’s mission of digital currency. Last week the People’s Bank of China published a draft law to legalize digital currency. China started trials of the digital economy in April this year. For big cities were chosen for trials. After six months of trials, the Chinese central bank published the draft law. Chine may soon launch the digital Yuan which will be a game-changer move. China’s sovereign digital currency is designed primarily to grow retail payments at home and prevent the dominance of the US dollar, rather than address threats raised by cryptocurrencies or stable coins.
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Edited By:Vineet Sharma
