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<div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/dig.wav' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='China Planning to Become First Country to Launch Digital Currency' data-article-id='4329'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='7625'>China is preparing to become the first country to launch its own digital currency.</span> <span data-start-time='7625' data-end-time='17500'>China’s central bank has released few details of its Digital Currency Electronic Payment (DCEP) project.</span> <span data-start-time='17500' data-end-time='21979'>Work on the project began five years.</span> <span data-start-time='21979' data-end-time='37563'>Some observers say the DCEP shows both financial innovation and the government’s desire to increase control over the movement of money.</span> <span data-start-time='37563' data-end-time='53583'>China’s digital currency has similarities to Facebook’s proposed digital currency Libra and existing cryptocurrencies such as Bitcoin.</span> <span data-start-time='53583' data-end-time='62271'>Like those forms of payment, the Chinese currency will be stored in a digital wallet.</span> <span data-start-time='62271' data-end-time='74854'>What is somewhat different is that China’s central bank will be able to follow where the money is going and even supervise trading.</span> <span data-start-time='74854' data-end-time='90583'>Observers say the goal of the project is for China to protect its economy at a time when newer payment systems could permit illegal money flows.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/3783/dig.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=14064 data-hint-location='0' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/what_does_digital_mean.wav'>What does digital mean?</div><div class='choices' data-correct-choice='information signals'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/synthesized_control.wav'><span>synthesized control</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/leather_wallet.wav'><span>leather wallet</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/alternate_currency.wav'><span>alternate currency</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/information_signals.wav'><span>information signals</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=14065 data-hint-location='21979' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/what_does_the_government_want_to_control.wav'>What does the government want to control?</div><div class='choices' data-correct-choice='movement of money'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/paper_cash_amounts.wav'><span>paper cash amounts</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/illegal_money_flow.wav'><span>illegal money flow</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/payment_systems.wav'><span>payment systems</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/movement_of_money.wav'><span>movement of money</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=14066 data-hint-location='74854' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/the_goal_is_to_protect_the__blank_.wav'>The goal is to protect the <span class='blank'>economy</span>.</div><div class='choices' data-correct-choice='economy'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/economy.wav'><span>economy</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/payments.wav'><span>payments</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/traders.wav'><span>traders</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/3783/bankers.wav'><span>bankers</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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