padangtime.com | It was 2014 when China’s banking sector shook hands on private banking licensing deals with Big Tech giants like Alibaba and Tencent, etc.
At this time, digital payment systems including Alipay and WeChat were born.
But we know less about the digital currency of the People’s Bank of China (PBoC) which started its trajectory in the same year.
https://www.youtube.com/embed/xZ0dk1XfE_w?autoplay=0
Also known as Central Bank Digital Currency (CBDC), it is now expected to be the next digital currency revolution, possibly ushering in digital payments 2.0 in China.
But why is it important to the world’s second-largest economy? Josh Arslan from China Matters sees how important it is for the country to digitize its economy and where have you come now?
Josh details the next wave of technological developments to understand how it’s being used in China and how it’s impacting the economy and lives of people hit by the pandemic.
The digital currency revolution, digital exhibition and the building blocks of the metaverse, is this really the next stage to further digitize the Chinese economy?
Josh Arslan sat down with industry players to ask if 2014 was the start of China’s digital economy.
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