Explanation:

With cyber yuan, the Chinese language authorities has created a digital foreign money managed by its central financial institution,  which will issue the new electronic money.

• A thousand years ago, when money meant coins, China invented paper currency. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power.

Key Points

• It is expected to give China’s government vast new tools to monitor both its economy and its people.
• By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user.
• A cyber yuan stands to give Beijing power to track spending in real time, plus money that isn’t linked to the dollar-dominated global financial system.
• The digital yuan may help with this initiative, making it easier to encourage users in other countries to use the yuan.

Hence option 2nd is correct.