Central banks worldwide are racing to modernize their payment systems through the issuance of digital currencies. They hope they can fend off potential competition from privately released crypto-currencies, digital currencies that can used independently of national central banks and governments. Here in China, the central bank has started a pilot program for a payment system known as Digital Currency Electronic Payment or DCEP. It's one of the biggest real-world trials of the technology as the country pushes towards a cashless future. So what exactly IS the DCEP and how does it work? Here's a quick intro.