Bitcoin standing outside the Bank of China

China has been trending away from cash and toward digital payments for quite some time now. In 2018, 3.8 quadrillion yuan was remitted using plastic cards, cheques, electronic transfers, and other formal methods. According to Bloomberg, September 11, 2019, in the first quarter of 2019, payments apps like AliPay and WeChat accounted for 59 trillion

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Source and More information: China is Already a Digital Economy, so why Introduce a Central Bank Digital Currency?

Author: BTCManager.com