China is beating the SLOTXO US When it comes to innovations in online money This poses a challenge to the US dollar's position as a de facto financial reserve in nearly 80 countries,

including China and the United States. It is in the process of developing a CBDC or central bank digital currency. It is a regulated form of money that exists entirely online.

China has already introduced digital yuan to more than a million Chinese citizens. while the United States It remains largely focused on research.

Two groups tasked with the research in the United States, MIT's Digital Currency Initiative and the Federal Reserve Bank of Boston,

are parsing what digital currency might look like to Americans. Privacy is a major issue. Therefore, researchers and analysts are observing the launch of China's digital yuan.