Signage for the digital yuan at a self check-out counter inside a supermarket in Shenzhen on November 20, 2020. Photo: Yan Cong Signage for the digital yuan at a self check-out counter inside a supermarket in Shenzhen on November 20, 2020. Photo: Yan Cong
Signage for the digital yuan at a self check-out counter inside a supermarket in Shenzhen on November 20, 2020. Photo: Yan Cong
Richard Harris
Opinion

Opinion

The View by Richard Harris

How China-led digital payment revolution is making bills, coins and some currencies obsolete

  • Many of the world’s central banks are looking at digitising their currencies and providing individual bank accounts from birth to handle government transactions
  • As banknotes and coins go out of circulation, we could be left with several virtual bank accounts and a few virtual currencies, all run by one smartphone

Signage for the digital yuan at a self check-out counter inside a supermarket in Shenzhen on November 20, 2020. Photo: Yan Cong Signage for the digital yuan at a self check-out counter inside a supermarket in Shenzhen on November 20, 2020. Photo: Yan Cong
Signage for the digital yuan at a self check-out counter inside a supermarket in Shenzhen on November 20, 2020. Photo: Yan Cong
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Richard Harris

Richard Harris

Richard has pioneered Asian investment management at senior levels for companies such as JP Morgan, Citi, BNY Mellon and several start-ups. He has 40 years of experience in a full range of investment and capital markets activities. He is CEO of Port Shelter Investment Management.