Paper
Rajesh Bansal, Somya Singh
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Source: Getty
In The Media
Watch out RBI, China's Central Bank Digital Currency is here
While the rest of the world is all hands on deck tackling the coronavirus pandemic, China has made a powerful move that might significantly strengthen its geopolitical influence in the global financial space.
Published on Jun 1, 2020
Source: Economic Times
While the rest of the world is all hands on deck tackling the coronavirus pandemic, China has made a powerful move that might significantly strengthen its geopolitical influence in the global financial space. The country is all set to roll out its Central Bank Digital Currency (CBDC) termed Digital Currency or Electronic Payments (DC/EP), making the People’s Bank of China (PBoC) the first major central bank in the world to do so. According to a recent report, China has started pilots for its CBDC in four cities but the official date of the launch has not yet been revealed.
This article was originally published by the Economic Times.
About the Author
Rajesh Bansal
Former Senior Adviser, Carnegie India
Rajesh Bansal was a senior adviser at Carnegie India. His research focuses on financial technologies, particularly electronic payment systems, electronic cash transfers, and digital financial services to enable inclusive development. He leads the center’s technology and society program.
- China’s Digital Yuan: An Alternative to the Dollar-Dominated Financial System
- How Will Digital Currencies Change Wallets?Q&A
Rajesh Bansal, Somya Singh
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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