Business
China is on track to unveil a digital currency that it hopes could challenge dollar dominance – ABC News
Remember when Facebook planned to launch its own digital currency Libra? Well, its plans have stalled but China has raced ahead building a digital yuan controlled…
In October 2019, Facebook CEO Mark Zuckerberg sat before the United States House of Representatives Financial Services committee and endured a barrage of scrutiny.
Key points:
- China has one of the most advanced digital payment systems in the world and their use is widespread
- Experts say China’s Digital Currency Electronic Payment is the opposite of Bitcoin as it is about control and regulation
- Beijing has been trialling the central bank-backed digital currency since last year, and has offered incentives…
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