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bitcoin is probably the best known digital currency in the world a digital currency is available exclusively in electronic form and a central bank issue digital currency unlike bitcoin which isnt controlled by a single entity would be issued and overseen by a central bank one of the biggest challenges would be figuring out how to take existing currency loonies and bills and convert it into a purely digital form cash use has decreased dramatically during the pandemic for health and practical reasons more than 80 percent of central banks around the world are researching how to leverage this technology including the bank of canada which has been studying digital currencies for seven years but china is the only major economy that started real life trials this month its giving out more than 7.7 million dollars worth of digital uen as part of a pilot project observers say its preparing a national launch a move to lower transaction costs spur economic growth and with an eye to giving the