Chinas Digital Currency Could Challenge Bitcoin and Even the Dollar
b'China\\u2019s Digital Currency Could Challenge Bitcoin and Even the Dollar China\\u2019s Digital Currency Could Challenge Bitcoin and Even the Dollar People in China are no strangers to digital payments\\u2014if anything, it\\u2019s easier to move around and shop in Shanghai or Beijing with an Alipay or WeChat Pay smartphone app than it is bearing a pocketbook filled with yuan notes. Now the Chinese government has begun a pilot program for an official digital version of its currency\\u2014with the likelihood of a bigger test at the Beijing Winter Olympics in 2022. Some observers think the virtual yuan could bolster the government\\u2019s power over the country\\u2019s financial system and one day maybe even shift the global balance of economic influence.\\nMost money that gets swapped around electronically is just credits and debits in accounts at different banks. China\\u2019s digital cash is designed to be an electronic version of a banknote, or a coin'