China’s digital currency is every dictator’s dream

The video discusses China's digital currency, DCEP, which is managed by the People's Bank of China. Unlike decentralized cryptocurrencies, DCEP is centralized and allows the government to trace all transactions. It aims to simulate everyday banking activities and combat financial crimes. Popular payment services like Alipay and WeChat Pay are already widely used in China.

In what ways will the DCEP simulate everyday banking activities?

What role do online payment services like Alipay and WeChat Pay play in the context of the DCEP?