By Matthew Makowski It appears cash has been dethroned as king in China. The People’s Bank of China (PBOC) has official begun to roll out its digital yuan. This makes it the first major economy in the world to introduce a digital currency. Though, after India implements its crypto ban, China may not be the only one for long.
The move unlocks a new realm of possibilities for Chinese citizens. However, it also introduces a whole new level of surveillance and control… Something the Chinese government found conspicuously lacking in the likes of Bitcoin and other cryptocurrencies.
China’s new digital yuan lives in cyberspace… Not …read more