China Will Be The First Country To Launch A Digital Currency: What Happens Then

• China Will Be The First Country To Launch A Digital Currency: What Happens Then
  by Wim Boonstra of Rabobank, https://www.zerohedge.com/
  Summary
  • China may be the first major country to launch a central bank digital currency or CBDC
  • The Chinese CBDC, named DCEP, will strengthen the position of the central bank and help to further modernize the Chinese economy
  • The DCEP will probably also be available for China’s trade partners, to begin with Africa
  • The DCEP may strengthen the international position of the renminbi to the detriment of the euro
  • The arrival of the DCEP should be a strong wake-up call for Western, especially European, policymakers

  Introduction
  Most central banks are busy preparing for the potential introduction of central bank digital currency (CBDC). CBDC is a digital currency issued by the central bank. It is sometimes referred to as a digital version of a bank note, but in many cases this is not correct. There are indeed many different potential variants.
  –
  read more.

end