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National Interests: Priorities and Security
 

The introduction of a national digital currency: Practical and methodological experience of China

Vol. 18, Iss. 4, APRIL 2022

Received: 27 December 2021

Received in revised form: 30 January 2022

Accepted: 27 February 2022

Available online: 15 April 2022

Subject Heading: INTERNATIONAL ECONOMIC RELATIONS

JEL Classification: E58, G15, G18, G21, G28

Pages: 745–769

https://doi.org/10.24891/ni.18.4.745

Subject. This article examines the key characteristics of the digital currency of the People's Bank of China.
Objectives. The article aims to analyze the advantages of using the digital national currency in China, taking into account the practical experience of other countries, as well as assess the prospects for the internationalization of the yuan and changes in the scheme of international settlements in terms of a possible weakening of the US dollar.
Methods. For the study, I used the systems and comparative analyses.
Results. The article describes the key advantages of the cyber yuan and substantiates the possibility of applying the successful methodological and practical developments of China by other countries, including Russia, when implementing their own digital currency projects.
Conclusions. The article recognizes the prospect of universal internationalization of the yuan and the destruction of the monopoly of the US currency with the help of the digital yuan conditionally possible and very distant.

Keywords: digital currency, national currency, digital yuan, internationalization, China

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