China is turning itself into the first major economy to create & distribute a digital currency. The world is ready for virtual transactions as services like Venmo, Apple Pay & cryptocurrencies have captured the market. A Central Bank Digital Currency (CBDC) is a cryptocurrency controlled by a government or Central bank like standard currency. 80 countries around the globe are researching on coming up with their own cryptocurrencies. Countries like China developing CBDC for themselves have become a threat to the U.S. dollar.