China central bank leads global digital currency race ...Qatar

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Ant and Tencent, which together occupy over 90% of China’s mobile-payment market, are currently under more regulatory pressure Amid a global race by central banks to master the concept of digital currencies — a disruptive technology once they looked down with regulatory scepticism — the People’s Bank of China looks set to be the first to issue a digital version of its currency, the yuan. According to patents registered by the PBoC and pilot trials, the digital yuan could work like this: Consumers and businesses would download a so-called e-wallet onto their mobile phone and fill it with money from their accounts at a commercial bank, similar to going to an ATM. They can then use that mone

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Last updated : 05 May 2021 clock 01:15 AM

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China central bank leads global digital currency race ...Qatar

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