DIGITAL ASSETS

The Digital Yuan

Are CBDCs the future of money?
Explore the strategies and initiatives undertaken by economies across the globe for digital currencies and how each nation contextualised its requirements, with a leading fintech and blockchain advisor. 
The value of transactions processed via CBDC is forecast to grow by 260,000% between 2023 and 2030.
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Online Course

Format

30 mins

Video duration

Advanced

Level

Badge

On Completion

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With this online course, you will:
  • Understand the basics of the Digital Yuan, its design, operational structure, and unique offline transaction technology.
  • Learn about the Digital Yuan's test phase, its applications and early adoption by governments and businesses.
  • Discover why the Digital Yuan was developed, its aims to improve cross-border payments, enhance oversight, and boost financial inclusion.
  • Gain skills to compare the Digital Yuan with digital currencies and payment systems like Diem and cryptocurrencies, focusing on their security, stability, and transaction differences.
  • Understand the economic impact of the Digital Yuan, including its influence on international trade, challenge to the US dollar's dominance, and potential to alter global financial systems, viewed through initiatives like the RCEP.
Skills

Crypto Literacy 

Analysis

Fintech Understanding

Strategic Insight

Comparative Evaluation

Course Lessons

Introduction to the Digital Yuan

Chapter 1 provides an introduction to China's digital yuan, explaining its concept, structure, and timeline. It highlights the digital yuan's independence from traditional bank accounts, its two-tiered distribution system involving the People's Bank of China and commercial banks, its programmability, and its unique dual offline technology for transactions without a network. 

The Testing Phase

Chapter 2 details the testing phase of China's digital yuan from April to October 2020, highlighting initial tests with government employee payments, adoption by American franchises in China, and partnerships with local companies. 

Rationale Behind the Digital Yuan

Chapter 3 discusses the rationale behind China's digital yuan, focusing on its role in facilitating cross-border payments, enhancing financial system control, and promoting financial inclusion.

Digital Yuan vs. the World

Chapter 4 compares the digital yuan with other digital payment systems like Diem (formerly Libra) and cryptocurrencies, focusing on technical aspects such as offline payment capabilities, transaction speed, security features, and volatility. It emphasises the digital yuan's unique offline payment functionality and potentially faster transaction speeds.

Why is the Digital Yuan a Financial Breakthrough?

Chapter 5 explores why the digital yuan is considered a financial breakthrough, focusing on its potential to alter the current USD-dominated international trade landscape and its role in the RCEP to expand CBDC use in Asia, thereby challenging the US dollar's global dominance and promoting the internationalisation of the yuan over a longer-term horizon. 

Meet your instructor - Dr. Oriol Caudevilla

FinTech and Blockchain Advisor, Influencer, Speaker and Host of “A Digital Tomorrow” Podcast

Dr. Oriol is a very influential voice in the FinTech area, has advised many FinTech companies and with a very extensive network across the globe. He is passionate about the Future of Banking and Finance, and a strong believer in digital transformation and artificial intelligence quickly becoming the top priority for those not wanting to be left behind as well as the best tool to create a more inclusive financial system.

He regularly publishes articles in several media, such as China Daily (both the Global and Hong Kong Edition), Macau Business and Challenger Insider. Dr. Oriol is a Current member of the Singapore Fintech Association (SFA) as well as FinTech Australia.