DCEP: Will China's Digital Currency threaten crypto?

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Digital Currency DCEP (Digitial Currency Electronic Payment, DC/EP) is a national digital currency of the China built with Blockchain and Cryptographic technology. The currency is pegged 1:1 to the Chinese National Currency – the RenMinBi (RMB). The overall objective of the currency is to increase the circulation of the RMB and international reach – with eventual hopes that the RMB will the a global currency like the US Dollar.
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