Beyond The Valley CNBC

China, the United States and the European Union all want to rein in Big Tech to one degree or another, each for its own reasons.

Nearly 50 years after the debut of the first games console, the industry has changed dramatically. Microsoft, Sony and Nintendo are battling it out for supremacy, with all 3 making forays into subscription models and cloud gaming.

Beijing has blocked a lot of foreign content within Chinese cyberspace for years. But tensions between the U.S. and China now threaten to split the internet into separate technological systems — one Chinese, and one Western. The ramifications could shape the future of politics around the world.

The U.S.-China tech war has made Beijing realize it needs a strong chip industry. But catching the United States will be a stiff challenge.

Raghuram Rajan, former India central banker and ex-IMF chief economist, explains to "Beyond the Valley" what central bank digital currencies could look like — and what they would mean for commerce.

Caught between the tech giants of the United States and China, an initiative from Germany and France hopes to keep European data under European control. Enter Gaia X.