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China gears up to launch a Digital Currency May 2020

China gears up to launch a Digital Currency May 2020

The Chinese have announced that they will be launching in May 2020 a digital currency surely it will not be long before other major jurisdictions follow?   Chinese manufacturing accounts for 28% of the world production which is 10% more than USA China is looking to dominate the digital landscape now according to McKinsey it

The Chinese have announced that they will be launching in May 2020 a digital currency surely it will not be long before other major jurisdictions follow?

 

Chinese manufacturing accounts for 28% of the world production which is 10% more than USA

China is looking to dominate the digital landscape now according to McKinsey it is one of the top three VC investors in VR, Autonomous vehicles, Drones, 3D Printing and AI

Mobile payments are 11 times the value of USA and these figures from McKinsey where back in 2017

The National Development and Reform Commission (NDRC) in China has said Blockchain will cloud computing, (AI) and (IoT) will underpin how China manage information in the future

China accounts for 40% of e-commerce transactions up from 1% a few years ago

China in 2019 dominated the number of Blockchain Patent applications according to IPRDaily and incoPat. Taking top three spots – Alibaba, Tencent and Ping An Group, and Chinese companies took seven of the top ten

As the rest of the world fights covid-19 saving lives and piling up huge debts, potentially stoking inflationary pressures, as economies slip into recession

China will be launching the first version of a Digital Currency in the city of Suzhou as government employees will receive 50% of their May 2020 transportation subsidies

MacDonald’s, Starbucks Subway all reported to agree to accept a new Digital Currency along with Ant Financial, Tencent and four state owned banks as part of a programme for retail and catering role out

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