Market Overview - Rise of the Digital Yuan - ERP Spain.com - España y América Latina

China is leading the way among large economies in trialing Central Bank Digital Currency (CBDC). Its official name is Digital Currency Electronic Payment (DCEP). The digital Yuan, unlike Bitcoin and other private currencies, will be legal tender. DCEP is intended to bring about another era of a digitized economy in the face of advancing blockchain or distributed ledger technology (DLT). China has not welcomed cryptocurrencies but subscribed to Blockchain technology. When plans were put in place to begin development of the digital yuan, the country planned to overhaul the digital payment ecosystem in the country. This was to strengthen the Yuan both locally and internationally. Agenda 1. PBOC and Digital Yuan 2. China Digital Penetration 3. RMB Internationalization 4. Impact on the Global Market