China could launch its crypto “discreetly”
The expert Glenn Woo assures that the system will be so perfect, that the user will not notice that it has changed exactly around the payments with cbdc
China has taken the big step to become the leader in developing a digital currency issued by a central bank.
Given this, there is still the uncertainty of when this currency will hit the market. Glenn Woo, head of Ledger Valut, assures that this could arrive without anyone noticing it.
The expert indicated that the Chinese government could be about to launch important initiatives, carrying out the first tests of the cbdc asset in businesses such as Starbucks, McDonalds, among others.
Woo predicts that cbdc will be integrated into existing digital payment rails, causing little disruption to Chinese economic activity and at the same time offering the government greater control and insight into the country’s retail economy:
“From a retail user perspective, they wouldn’t necessarily know what has changed, it’s going to be the same. They will continue to use WeChat, the super app, to do a lot of different things: shop, call taxis, transfer money, you know, hand out red packets during the holidays, and so on. “
Furthermore, it is hoped that the Chinese digital asset can function as a method to drive trade settlement in Chinese currency.
K. Tovar
Source: Cointelegraph
