Meanings behind the digital Yuan
Posted On December 14, 2020
The digital wallet of Yuan has been connected to several e-commerce platforms, including JD.com, ride-hailing service provider Didi, video-streaming platform Bilibili and service app Meituan. With the rising global anxiety about the possibility that fiat currency in China is to be replaced by digital Yuan, Zhou Xiaochuan, the former governor of the People’s Bank of China has denied this. However, he admitted that the digital currency might transform international trade because it can handle cross-border transactions simultaneously and in real-time.