Digital Yuan to Fuel China’s Economic Reign – McDonald’s, Starbucks, Subway Test PBoC’s Cryptocurrency

China’s economy is the second-largest in the world and economists believe the country may someday bring a new global order and end the Western hemisphere’s financial rule. In 2020, various reports show that China’s central bank will soon release a cryptocurrency that represents a digital yuan. This week, regional reports show that 19 well known restaurants including Starbucks, Subway, and McDonald’s will be testing the bank’s virtual currency.

China’s Digital Yuan Is Becoming a Reality

Reports this week detail that the People’s Bank of China is making headway with its digital yuan testing. Rumors of China creating a digital yuan or a central bank digital currency (CBDC) have been happening since 2013. Four days ago, the PBoC confirmed the existence of a CBDC after a number of photos went viral on social media. The PBoC made a statement about the screenshots and explained that the bank was testing. “The rumored information on the internet is part of the test in our…