China Makes Big Investments in Digital Currency

It was only a matter of time before a country decided to hop on the virtual bandwagon. China has recently started real-world trials of their digital yuan — a digital currency intended to replace a portion of existing cash in circulation. 

What are the benefits of a national digital currency?

• Producing and storing cash & coin is incredibly expensive.
• While there will be some anonymity, analysis tools will be used to detect and mitigate illegal payments.
• It will level the playing field, by creating more opportunities in an arena presently dominated by a select few private companies.

We’re sure there are huge opportunities here for partnerships across payments providers, banks, and more.