Digital Yuan (ECNY CURNCY)

The e-CNY, also known as Digital yuan or digital RMB introduced by PBOC (People Bank of China), is the electronic form of Chinese Renminbi, and like Chinese Renminbi, it aims to circulate around deposit accounts and other transactions method. China has adopted to work on a mechanism of the cashless economy through Chinese digital currency e-CNY targets to replace the dollar as the world’s reserve currency.