In a not-so-strange move for industry experts, China has begun experimenting with its own Digital Currency for interbank transfers.
The purpose of this is to provide a secondary Digital Currency alongside the Yen.
Although the technology needed to implement the idea is still out of reach, the government is still conducting experiments on Cryptocurrency as well as on the performance of the idea in national banks.
This idea has several important advantages:
1: A Digital Currency in a country with a large population and low infrastructure, makes financial resources available in areas that do not have traditional banks.
2: A Digital Fiat Currency will enable the government to practically track digital exchanges, which is a huge industry in China.
3: Ultimately, such a Currency will reduce costs and increase exchanges, which in turn will lead to economic growth.
This Chinese Combined Currency has introduced a new world of Currency selection to government, citizens and businesses.