Phnom Penh Post:

Central bank digital currency (CBDC) is a new form of money issued digitally by the central bank and to serve as legal tender – a country’s sovereign currency. It has no physical form like cash, but is backed by the reserves of valuable assets that commercial institutions deposit in the central bank.

Like a token, the upcoming CBDC could be put into electronic wallets, supporting direct and peer-to-peer transactions. The “wallet” could be an app on a handheld device, such as a mobile phone, but the final design has not yet been settled, according to Mu Changchun, deputy director of the central bank’s payments department.

https://www.phnompenhpost.com/business/ ... rlds-first

Final struggle before RMB becomes paper...

Hmmm..... and no doubt the ledger in the sole control of China, giving it the power to transfer / revoke / duplicate ownership of funds.

Not to mention an absolute and complete map of every connected transaction the currency is ever used for. That would be a very interesting dataset to mine.

Who would you rather have mining this information .... the Chinese government or Facebook

(I honestly have no idea which would be least bad).