Member-only story
Only innovative countries will create rules for the future World and currency.
The development of a modern economy is about speed and the ability to adapt to new conditions and technologies. The European Central Bank also wants to be prepared for the eventual digitalization of the euro and is therefore coming up with the Digital Euro Project. The digitization of currencies has thus reached another historic milestone.
The launch of the first cryptocurrency Bitcoin in 2008 attracted the attention of central banks around the world. Although the principle of functioning under the control of a central authority is in direct contrast to the decentralized functioing of cryptocurrencies, it must be acknowledged that the blockchain technology on which Bitcoin is based is very interesting and applicable to central banks.
The Chinese dragon does not sleep but innovates
China has long since ceased to be a sleeping dragon. It was among the first to work on developing a digital version of its currency, back in 2014. According to the Chinese central bank, more than twenty million people already own a virtual wallet, and the pilot version is still expanding. There are even plans for foreign visitors to the Beijing Winter Olympics next year to use the digital e-Yuan.
