Tagged: renminbi

Digital Yuan will “Hardly Put a Dent” in US Dollar Dominance and its Role as Global Reserve Currency, Cornell Professor Claims

August 29, 2020 @ 11:27 am By Omar Faridi |

Eswar Prasad, professor of Trade Policy at Cornell University and senior fellow at the Brookings Institution, acknowledges that the Chinese digital yuan will improve the nation currency’s role as an international payment method. However, he clarified that it will “hardly put a dent” in the… Read More

Read more in: Asia, Blockchain & Digital Assets, Opinion | Tagged cbdc, cbdcs, central bank digital currency, china, chinese yuan, cornell university, digital currency, digital yuan, eswar prasad, pboc, peoples bank of china, renminbi, us dollar, virtual currency, virtual yuan

China’s Virtual Yuan will Use Dual Offline Technology to Ensure that the National Digital Currency Works Even with Poor Signal Strength

April 21, 2020 @ 2:37 am By Omar Faridi |

The Bank of China’s somewhat secretive digital currency pilot program has made many people quite curious. The bank recently provided an official explanation of how the virtual yuan or renminbi was being tested and how it might work if and when it is launched. A… Read More

Read more in: Asia, Blockchain & Digital Assets | Tagged bank of china, cbdcs, central bank digital currency, china, digital currency, digital yuan, peoples bank of china, renminbi, virtual currency, yuan