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Rachel Welch

16 October 2022 253 Read Crypto

The Future of Chinese Digital Currency Transactions

A study has been released to analyze the prospects of the digital renminbi in international commerce. While digital renminbi transactions are still relatively small, they have the potential to significantly alter the way Chinese businesses and consumers transact. The study has several implications, including the role of e-CNY as a gateway for the big tech firms that dominate China's digital payment sector.

While this new digital currency system may seem exciting, it is not clear exactly how it will improve the user experience. While it will enable more transparency and convenience, it will also likely reduce security. This means that only those businesses that accept e-CNY will be able to process payments. However, this does not mean that the current system is completely unreliable or secure.