Yuan DCEP digital currency, conceptual illustration
Yuan DCEP digital currency, conceptual illustration. China has been developing its own digital currency since may 2020, the DCEP (digital currency electronic payment), or e-yuan. The e-yuan is built with blockchain and cryptographic technology but is not a cryptocurrency in the strictest sense because it is issued by the Chinese state bank. China also intends to make the DCEP a currency for international use and independent of the global financial system with the aim that the official Chinese currency the renminbi (rmb) becomes a global currency like the US dollar., Photo by PATRICK LANDMANN/SCIENCE PHOTO LIBRARY
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