Interoperability with current digital payment systems, a domestic retail focus, and co-existence with physical cash are some of the key themes of China’s Central Bank Digital Currency, the eCNY, according to a new white paper released by the People’s Bank of China. Since China’s eCNY was thrust into the spotlight in 2019, a lot has been said about the project with some calling it “China’s bitcoin”. Although bitcoin is mentioned in the report, as a prelude when introducing the current era of digital payments, there’s no correlation between the two in the report. In fact, if anything, the opposite: “Given their lack of ... (full story)