Chinese banks on digital currency: Striving to oust the US dollar?

Chinese banks on digital currency path have started to conduct research and development processes for the development of the China Bank Digital Currency (CBDC) or Digital Yuan. The digital Yuan has been subject to global news since the People’s Bank of China announced creating a digital currency said to be a rival to Facebook’s Libra currency. China is reportedly trying to oust the US dollar from its global domination with the launch of the digital Yuan. The Digital Yuan being subjected to research is still being developed by the People’s Bank of China. There has not been any official statement