This paper reviews Facebook’s innovative digital currency Diem (previously Libra) and queries whether China’s equivalent, Digital Currency Electronic Payment system, or DCEP would be more rapidly adopted globally.

Highlights from the paper:
• The growing critiques of Facebook’s digital currency.
• China own ambitious digital currency plans – Digital Currency Electronic Payment system, or DCEP.
• Whether China’s leadership in payments innovation with Alipay and WeChat may lead to its dominance in digital currency.