The Diplomat: How Will China’s Sovereign Digital Currency Affect Fintech?

The Diplomat: How Will China’s Sovereign Digital Currency Affect Fintech?. “China’s sovereign digital currency is still in the testing phase, but has caused speculation about what effect it will have on fintech. Some experts have asserted that the digital currency will crowd out payment methods WeChat Pay and Alipay. Others have stated that China’s sovereign digital currency will boost the fintech industry overall since it is electronic. So, how can we reasonably predict will the effect of the digital currency will be on China’s fintech industry?”

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