You all know that China is doing hard work to turn over the digital Yuan. The technology giants of china, like Alibaba and Tencent, cross over the board. But the challenges are also high, and it is not easy to cross over. One question stands out: will the citizens of China, who already have two leading mobile payment apps operated by these same firms, start using digital Yuan? It is a big question.
The People’s Bank of China, the country’s chief bank, has been practicing the digital form of cash and coins since 2014. It is also known as e-CNY, designed to remove cash.…Continue reading