How China’s digital yuan is making strides in financial inclusion

Interview with GovInsider!  Thanks to Jaz Low for this interview where we discuss the contribution China’s digital yuan will make to financial inclusion!

The digital currency is designed to replace physical cash and coins in circulation. “This makes it different from cryptocurrencies like bitcoin, which are decentralised and not backed by a single administrator,” Turrin notes.

 

Link to article: How China’s digital yuan is making strides in financial inclusion

While WeChat and Alipay have made great strides in bringing financial inclusion to China, China is still the home to the world’s largest unbanked population.

Using “Finbold” data here up to 20% of China’s population or 287 million are unbanked.