Counting the Cost

Why China’s plan for the world’s first digital currency matters

Beijing rolls out testing of eCurrency as the total value of the entire cryptocurrency market rises above $1 trillion.

Tried and tested in the biggest “open-air digital prison” in the world, China’s surveillance of Uighur Muslims in Xinjiang has been rolled out across the country.

Cameras, artificial intelligence and facial recognition have been deployed to monitor and reward citizens with social credits.

But, China is about to take another step to exert its control over its 1.4 billion population.

It is currently testing a digital currency that could replace the yuan this year.

It may also be used to reign in the country’s powerful technology companies.