The future of money
The Bottom Line
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Central Bank Digital Currency
We're in a similar point in time as when we moved from coins into the cash note system, says John Defterios. And i think that's what central banks are genuinely struggling with - he adds. In china, for example, they've had electronic payment system called we chat and ali pa,. These have taken off incredibly um in china. So everyone pays with an electronic system. What that means is that the companies that own those electronic payment systems have effectively got a monopoly control over the flows of digital currency and the country.
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