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Full-Text Articles in Social and Behavioral Sciences
The Coming Central Bank Digital Currency Revolution And The E-Cny, Heng Wang, Ross Buckley
The Coming Central Bank Digital Currency Revolution And The E-Cny, Heng Wang, Ross Buckley
Research Collection Yong Pung How School Of Law
The only central bank money individuals and businesses have today is cash. Everything else they use as money is commercial bank promises. Central bank digital currencies (“CBDC”) will likely change all this by putting central bank money into everyone’s hands. China is a front runner in this revolution, and its CBDC, the e-CNY, may well in time profoundly affect the international economic order. This article analyses the major considerations around the e-CNY, its ramifications, in particular for trade, and its possible challenges.
China Meets Digital Currency: E-Cny And Its Implications For Businesses, Heng Wang
China Meets Digital Currency: E-Cny And Its Implications For Businesses, Heng Wang
Research Collection Yong Pung How School Of Law
China is likely to be the first major economy to issue central bank digital currency (CBDC). China’s CBDC, e-CNY, may lead to a new ecosystem that would profoundly affect business, product offerings and business practice. E-CNY is likely to affect both local and international businesses, particularly those with a presence in China or those who commonly transact with Chinese actors. There is also the possibility of e-CNY use outside of China. If China’s CBDC practice and standards affect international practice (such as through standard making), e-CNY has the potential to affect the broader businesses community. This article discusses the following …