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China Rolls Out Pilot Test of Digital Currency

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    China's central bank has just introduced digital currency in four municipalities as part of a full-scale test. This is a first for an institution of this scale.      The cities of Shenzhen, Suzhou, Chengdu, and Xiong'an - a district of Beijing- have been chosen by China to try out a nationwide initiative in cryptography. China Rolls Out Pilot Test of Digital Currency       The pilot program aims to test the functionality of such currency at the local level as a first step, according to an official statement made Monday, April 20, by the People's Bank of China.      As reported in the Wall Street Journal, the full-scale tests are the result of several years of work by the Chinese central bank's research institute since 2014. No official name      Named by its internal shortcut "DC/EP", or "digital currency/electronic payment" in the absence of an official name, the new currency should have certain functionalities in common with better-known crypto