China Will Use Its Digital Currency To Compete With The USD | Forbes

China’s new digital currency known as DCEP provides more opportunity for government monitoring. This also creates credible decentralization, and some believe they are trying to replace the USD as the main reserve currency of the world. This comes as China has been working to issue domestic RMB with policy measures such as dim sum bonds since the start of the late 2000s.

Source: https://www.forbes.com/sites/rogerhuang/2020/05/25/china-will-use-its-digital-currency-to-compete-with-the-usd/#4511df0d31e8