Crypto RMB: Finance Innovation Or New Tool For Control?

Rumors about a Chinese digital currency, a "digital crypto-renminbi" have been around for a while. In April 2020, the Chinese government announced that the first pilot trials of the new digital currency were being carried out in several cities. What is this new currency? What goals is the Chinese government pursuing with it? And what does it mean for Europe and the euro? Andrew Work has analyzed this for the foundation's Global Innovation Hub.