Page 43 - ஸ்டான்போர்ட் பல்கலைக்கழகம் ஹூவர் நிறுவனம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The invention of the bank note – or ‘paper money’ – can be accredited to the Chinese. The Chinese have now introduced their own digital Yuan, in what The Wall Street Journal describes as ‘a re-imagination of money that could shake a pillar of American power’. While Bitcoin and numerous other cryptocurrencies have previewed the future of digital currencies, China’s digital Yuan will be controlled by their central bank and be issued by them, too. A digital version of an established currency has benefits that cryptocurrencies like Bitcoin are lacking. ‘Cryptocurrencies such as bitcoin have foreshadowed a potential digital future for money, though they exist outside the traditional global financial system and aren’t legal tender like cash issued by governments’, writes James T. Areddy. However, unlike Bitcoin and its anonymity, the digital Yuan is expected to enable the Chinese government to further monitor people and the economy. – Jarryd Neves

United statesHong kongNorth koreaUnited arab emiratesWorld bankDistrict of columbiaJerome powellJanet yellenKevin warshTao weiNicholas burnsJosh lipskyZhou xiaochuanMao zedongJamest areddyCarrie lam