Digital yuan conceived to counter Alipay-like platforms, says former PBoC exe...

Digital yuan conceived to counter Alipay-like platforms, says former PBoC exe...

Chinese "crypto dad" and ex PBoC director Yao Qian insists digital yuan is not a surveillance tool for the government. China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately owned conglomerates, former People’s Bank of China director Yao Qian said.Speaking at the International Finance Forum in Beijing, Qian argued that simply simulating its physical counterpart would not be enough for the digital yuan to succeed. To fully benefit from being digital, it will move toward the "smart currency" by making use of....


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China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large...

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