China’s new cryptocurrency will give banks and government more control | The World

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  • ABC News (Australia) published this video item, entitled “China’s new cryptocurrency will give banks and government more control | The World” – below is their description.

    China is hoping a new state-backed digital currency will be ready to use for locals and visitors alike at next year’s winter Olympics in Beijing. The ‘digital yuan’ has been in circulation in pilot projects across china for almost a year. It is the first state-backed cryptocurrency in the world to be used on such a scale. But unlike more traditional cryptocurrencies it will give the central bank and the government more control not less. Sean Mantesso explains.

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