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China Creates Its Own Digital Currency, a First for Major Economy
- megraf 6y agoCorrect link: https://www.wsj.com/articles/china-creates-its-own-digital-currency-a-first-for-major-economy-11617634118 https://www.wsj.com/articles/china-creates-its-own-digital-c...
- dartharva 6y ago> Unlike electronic transactions today, the digital yuan is designed to move from A to B instantaneously, at least in theory removing away banks and financial apps that profit off fees and brief built-in delays in such handoffs. The only necessary middleman is the central bank. Interesting. But won't replacing electronic bank transactions reduce money market activity as they banks get less money to invest than they otherwise could have? What's the rationale here?