114. Richard Turrin: "Cashless"
The Honest Drink
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How Does WeChat Pay and All WePay Contribute to Your Credit Rating?
WeChat Pay and All WePay monetize your data through credit rating system, through loans, through sales of your purchase history or used for advertising. So if we look at the monetization of that, do you have any data around how big that industry is as a proxy for the lack of privacy? In America, let's say it's a $200 billion industry of selling your personal data and then in China, it's an X billion dollar industry. I think everybody is very anti-digital currency, central banking digital currency. It sounds like right now we're kind of steering it in a way where it's like west-first China,. But I think it's global.
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