More tech, more problems.
Ohh, thank you for clarifying!
Ha, I didn’t even know that was a song!
The digital Yuan tests continue, apparently.
he central bank of Beijing, a big player in the CBDC initiative, has been further preoccupied with a Hong Kong-based project dubbed “Project Inthanon-LionRock”. Its aim is to study the possibilities and consequences of integrating the Chinese CBDC for international payments. The project has also onboarded the Bank of Thailand and the Hong Kong Monetary Authority.
Well, looks like the trials went beyond just consumer testing. One of the largest ecommerce websites in China used it to pay employees. Definitely could take a bite out f Alipay and Wechat pay. Perhaps that the ultimately goal. Take the power away from the growing commercial leaders and back to the governement.