Assessing the Implications of China's Digital Yuan
April 20, 2021 China is rolling out a digital yuan, making the world’s second-largest economy the first major country to create its own digital currency. That move could have implications for an array of assets, fintech and otherwise. The digital yuan could disrupt the digital payments industry (which itself is a disruptive industry when compared with traditional payments processing). One can open a PBOC digital wallet with nothing but a cell phone number—you don’t even need a name. The Chinese government even plans to fund these wallets with extremely targeted stimulus payments. The ...