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
READ FULL ARTICLE