Prospects for the Launch of the Digital Yuan
Prospects for the Launch of the Digital Yuan

Author(s): Oskar Szydłowski
Subject(s): National Economy, Economic policy, Fiscal Politics / Budgeting, ICT Information and Communications Technologies
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: China; currency; digital Yuan; prospects;
Summary/Abstract: Among the digital currency projects developed by major economies, the Chinese digital yuan (e-CNY) is the most advanced. After pilot projects in selected Chinese regions, the biggest test was to be at the Winter Olympics in Beijing. The spread of the digital yuan will enable the Chinese Communist Party (CCP)to expand its digital authoritarianism through increased surveillance of citizens’ finances. It may also increase the Chinese currency’s share of international transactions in the region. The success of the e-CNY should accelerate the ECB’s work on a privacy-preserving digital euro.

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