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Digital renminbi (Chinese: 数字人民币; also abbreviated as digital RMB and e-CNY), or Digital Currency Electronic Payment (DCEP, Chinese: 数字货币电子支付; pinyin: Shùzì huòbì diànzǐ zhīfù), is a central bank digital currency issued by China's central bank, the People's Bank of China.
Mar 5, 2021 · Here’s how it works. GUANGZHOU, China — China is arguably leading the world in developing a national digital currency, a project it has been working on since 2014. The People’s Bank of China...
Dec 9, 2020 · Learn about the DC/EP, a digital version of the yuan backed by China's central bank and under development for more than five years. Find out how it differs from cryptocurrencies and what benefits it could bring to the Chinese economy and society.
Aug 3, 2023 · Though the People’s Bank of China (PBOC) has not been shy about its central bank digital currency (CBDC) project, it has revealed few specific details about how the e-CNY actually works—or how ...
- Mike Orcutt
Apr 19, 2022 · China is exploring the potential of a digital renminbi (e-CNY) to boost the yuan's international use and limit the power of private payment platforms. However, the e-CNY faces challenges at home and abroad, such as low public interest, technical limitations, and international skepticism.
Jun 2, 2023 · Since 2014, the People’s Republic of China has been developing a digital currency called the digital yuan—also known as e-yuan, e-CNY, digital renminbi, or digital RMB. This new technology provides an array of options for overseeing China’s colossal and fragile financial system, as well as opportunities for economic influence abroad.
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Feb 17, 2021 · China’s digital renminbi is a “central bank digital currency”, making it in some ways the opposite of cryptocurrencies such as bitcoin. Cryptocurrencies are often decentralised; they are not...
