China’s digital currency to be used for retail and remittance

China’s digital currency to be used for retail and remittance

China’s digital currency approach will be favoring international payments and domestic retail system. Zhou Xiaochuan, the president of the Chinese Finance Association, outlined two types of implementations of central bank digital currencies. The first type is an e-payment oriented domestic retail system, while the second is international remittances for settlements between financial institutions.

Timothy
Timothy
Bart
Bart 4 months

Yes because tyrannical Communist government being able to literally cut you off from your money in seconds is a great idea.

Paul C
Paul C 4 months

China having a state sponsored cryptocurrency seems like one of the worst ideas I can imagine.

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