Reflections on the Latest e-CNY Pilot Test in China
DOI:
https://doi.org/10.5281/zenodo.6824175Keywords:
digital fiat currency, e-CNY, benefits, pilot test, new characteristics, future trendAbstract
In August 2021, China started a new round of pilot test of its digital fiat currency in Shanghai and Suzhou, during which a total of RMB20 million in digital currency was handed out to residents. This pilot test has become a heated topic in China recently and also caught attention all over the world. This paper starts with the definition of e-CNY and its benefits over cryptocurrency and mobile payment systems. It focuses on the pilot tests of China’s digital currency and the new characteristics emerging, and anticipates the future trend of the pilot test of China’s digital currency.
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