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China has recently released its own version of a digital currency known as the digital yuan that is controlled by its central bank. China is also positioning the digital yuan for international use.
What is the digital yuan?
How does digital yuan differ from bitcoin?
What is digital currency? Digital currency is a form of currency that is available only in digital or electronic form, and not in physical form. It is also called digital money, electronic money, electronic currency, or cyber cash. · Since digital currencies require no intermediary, they are often the cheapest method to trade currencies. · All cryptocurrencies are digital currencies, but not all digital currencies are cryptocurrencies. · Digital currencies are stable and are traded with the markets, whereas cryptocurrencies are traded via consumer sentiment and psychological triggers in price movement. |
Why is the digital yuan being introduced?
What are the possibilities of digital currency being introduced in India?
Sources
https://www.cnbc.com/2021/03/05/chinas-digital-yuan-what-is-it-and-how-does-it-work.html