CYBER YUAN
It is a digital currency created by Chinese government and controlled by People’s Bank of China (PBOC).
Digital yuan is designed to replace cash in circulation, such as coins and bank notes, not money deposited long-term in bank accounts.
A cyber yuan helps China to track spending in real time, plus money that isn’t linked to the dollar-dominated global financial system.
More than 60 countries are at some stage of studying or developing a digital currency, according to research group CBDC Tracker