China is beating the U.S. when it comes to innovation in online money, posing challenges to the U.S. dollar’s status as the de facto monetary reserve. Nearly 80 countries — including China and the U.S. — are in the process of developing a CBDC, or Central Bank Digital Currency.

Link: https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2021/07/24/the-us-is-deciding-how-to-respond-to-chinas-digital-yuan.html