China starts major trial of state-run digital currency

Reports claim that American chains Starbucks, McDonald’s and Subway were named on the People’s Bank of China (PBOC)’s list of firms that will test the digital currency in small transactions with 19 local businesses. However, in a statement Starbucks told the Guardian it was not a participant.
 
Our assessment is that if the Chinese digital currency comes into being, bypassing the American dominance, Chinese businesses will be able to create trade partnerships globally with counterparts.