++ China’s Digital Yuan Works Just Like Cash—With Added Surveillance

The hope for government-sanctioned digital currencies is that they will improve efficiency and spur innovation in financial services. But tech and China experts watching the country’s project say that eCNY, also known as the electronic Chinese yuan or digital yuan, also opens up new forms of government surveillance and social control. The head of UK intelligence agency GCHQ, Jeremy Fleming, warned in a speech last month that Beijing could use its digital currency to monitor its citizens and eventually evade international sanctions.

Source: https://www.wired.com/story/chinas-digital-yuan-ecny-works-just-like-cash-surveillance/