China’s Digital Currency
It won't replace cash.
It does not use blockchain.
Even people who do not have a bank account will be able to use it.
Foreigners travelling in China will find it very easy to use.
China's #currency is going digital, with a July report showing that more than 20 million personal wallets and over 3.5 million corporate wallets were opened as of June. The transaction value has already reached 34.5 billion yuan ($5.34 billion). What do those numbers tell us? What can digital renminbi do that wasn't possible before? What other steps is #China taking to build a digital society, and why?
1 comment:
Will it make me drop dead gorgeous?
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