Understanding China's Digital Yuan
https://www.investopedia.com/ understanding-chinas-digital- yuan-5090699
By RAKESH SHARMA
Updated Dec 9, 2020
• DC/EP* is a digital version of the yuan and has been under development for more than five years.
*Digital Currency Electronic Payment
• DC/EP differs from existing cryptocurrencies because it is legal tender, centralized, and not anonymous.
• DC/EP could help bring China bring its unbanked population into the mainstream economy, accelerate the move to a cashless society, and internationalize the renminbi'(人民幣拼音: Rénmínbì，レンミンビ)s use in trade settlements.
◆New Vocab for you ???
◆It is interesting that the author of the arcitle seems Indian ^^
◆①legal tender,② centralized, and ③not anonymous.
What would be the influence?
・DO people you it or would it be mandatory??
Control by the government… to take tax.
When using current criptcurrancies can the government know the cash flow (for example is it conneted to the national ID??)
・Which do you think is better, Centralized or decentralized?
As a consumer decentralized would be free?? Local currency, local community would be developed if it’s idea is like that. But current cryptocurrency is just for capital benefit oriented… just feeling that the control is uncomfortable???
For the society centralized would be better to get the data? It depends on if the people trust the government or not…
◆similar to denomi
◆How the digital yuan will help propel(推進) the renminbi to international reserve status??