China creates its own digital currency, a first for major economy
The dollar’s new rival. China is turning legal tender itself into computer code. A cyber yuan stands to give Beijing power to track spending in real-time, but unlike Bitcoin, it is also expected to be used as a tool to monitor its people. In this comprehensive insight, James T. Areddy analyses the implications for a digitized money model and what it could mean for the rest of the world.
From The Wall Street Journal