Part 2 – Design of Digital Yuan – A Balance between State Control and Consumer Needs 

Part 2 – Design of Digital Yuan – A Balance between State Control and Consumer Needs 

Part 2 – Design of Digital Yuan – A Balance between State Control and Consumer Needs

By — Omkar Bhole;

As China will be the first major country to launch the CBDC, the design of Digital Yuan implemented by China can be a guide for many countries that are still behind China in terms of CBDC development. Hence, it is important to analyse the rationale behind China’s designing of Digital Yuan in a specific manner which will not only affect China’s domestic economic structure but also influence global economy as China aims to promote internationalisation of its currency through its digital currency in the future.

Part 1 – Digital Payments System in China – A Catalyst for Development of Digital Yuan 

Part 1 – Digital Payments System in China – A Catalyst for Development of Digital Yuan 

Part 1 – Digital Payments System in China – A Catalyst for Development of Digital Yuan 

By — Omkar Bhole;

This is the first in a new series on Digital Yuan.

In the past one decade, China has been rapidly transforming into a cashless economy Owing to China’s growing domestic consumption, digital payment systems like mobile payments and card transactions have made payment settlements more convenient for Chinese citizens. Moreover, the COVID-19 pandemic extensively stimulated digital payments, driven by social distancing policies adopted by governments across the world over the last two years.