The Chinese Electronic Yuan, or the e-CNY, is a central bank digital currency (CBDC) sponsored by the People’s Bank of China (PBOC). The e-CNY is identical to the currency of China, the Renminbi (unit being yuan) and is a legal tender in the country. The PBOC has been actively testing the electronic yuan (e-CNY)—with a population of around 21 million participating in the tests as of June 2021. Moreover, China aims to extend the use of digital yuan worldwide and facilitate cross-border payments and tourism.

The concept of ‘adaptability’ was introduced by Charles Darwin in the 19th century when he had stated that it was not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change. Though the theory was propounded in the context of biological evolution of species, the same can apply to organizations and businesses that in order to survive must adapt to the needs of the market and demands of the time.