[Show More] Usage of Digital Yuan in China Leaps 1,800% The Chinese currency, RMB (Renminbi), has been a fiat currency even if it is not fully backed by hard assets such as gold. RMB has been circulating in China and many other countries such as Hong Kong, Macau, and Taiwan, where the Chinese Yuan is the official currency. The RMB is the fifth most traded currency in the world. Since the early 2000s, many commodity-related currencies such as the gold-backed “petrol” and the oil-backed “fiat” have been built and made available to consumers. The digital currency Yuan is a direct...