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Home World China trials national digital currency in specific areas

China trials national digital currency in specific areas

Bitcoin is the world’s largest digital currency by market cap. Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system known as a blockchain.

China has been trialing payments of its digital currency in specific areas, the central bank governor said on Tuesday, paving the way for its becoming the first country to establish a national electronic payment system. Central banks in Japan, the United States and Europe have been vigilant of China’s lead in issuing a national digital currency, as it could threaten the long-standing position of the U.S. dollar as an international reserve currency. The digital yuan is currently under trial in a handful of cities including Shenzhen, Suzhou, and Chengdu, People’s Bank of China Governor Yi Gang sai…

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