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China's digital currency will be distributed using a two-tiered system to help get it into consumers' hands

27 days ago   |   By Business Insider

Summary List Placement The People's Republic of China introduced its first blockchain-powered digital currency controlled by its central bank, The Wall Street Journal first reported. The project took seven years to complete since work began in 2014.
The e-yuan is a government-sponsored virtual currency designed to trace all movements of money. For example, the state will know full details about what someone purchased and where, FXStreet reported .
It is money that isn't associated with the global financial system, where the US dollar has dominated since World War II. Its main aim is to...
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