China's Digital Yuan Poses Growing Threat to US Dollar

China is forging ahead with a plan to launch a digital-version of their currency, the yuan, a high-tech gamble that some economists warn could pay off, threatening the U.S. dollar and expanding China’s global dominance.

China experts predict the digital currency could debut worldwide as early as next year — just in time for the Winter Olympics, which is set to be held in Beijing. In an effort to get the new currency up and running, however, Chinese banks have already begun providing people in several cities with digital money, also known as CBDC, DCEP, or eCNY, to make payments using pilot programs.