Bitcoin is a cryptocurrency, a payment system that allows no one to control operations. Now, a competitor has emerged, since the Government of China is preparing the eYuan, another cryptocurrency that, far from promoting commercial freedom, is controlled by the Central Bank.

The authorities have distributed to citizens packages of this new virtual currency, which can be downloaded to devices as a virtual wallet, which is in constant contact with the Central Bank of China. As reported by the Financial Times, this could make China a leader in the adoption of this digital payment system, with which the authorities will be able to see all the transactions of citizens at the moment.

The launch date of this new digital currency is not yet known, which, from the Chinese Government, explains that it is a way to avoid "corruption, laundering or financing of terrorism," according to El Economista. However, the truth is that, with it, they will be able to control all the movements of the citizens' virtual wallet.

Thus, through the aforementioned virtual gift packages in the form of digital currencies, tests have already begun to improve the operation and correct possible failures of the eYuan, before formalizing its launch.

China's ultimate goal would be to superimpose its currency on all current payment mechanisms, prioritizing all those that are made through electronic devices and that, therefore, would be controlled by the country's authorities. This could have repercussions on some major payment providers, such as the two that dominate the Chinese market, WeChat and Alipay.

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