Following Facebook’s recent Libra whitepaper release, the Chinese central bank accelerated its plans to launch its own digital currency. The race to CBDC is on. Who will be the first to float one? China? Facebook? The US government? The excellent Binance Research report sheds some light on the matter exploring existing discussions related to the creation of a sovereign digital currency from the People’s Bank of China, along with its potential structure from operational, financial, and technical perspectives.