Jonny Fry Posted
A Chinese Digital Renminbi could potentially replace the US$ in some countries
WeChat, which has over one billion members, is owned by the huge Chinese tech company Tencent. This is the 5thbiggest company in the world, and is helping China to rapidly replace cash and enable Chinese citizens to digitally pay for all their goods and services. Over $50 billions of transactions in 2018 was carried out on WeChat, with WeChat handling over 48 BILLION messages a day!
In a recent survey, WeChat and Alipay (owned by Alibaba) were found to be responsible for over 50% of transactions, while cash had slipped...
WeChat, which has over one billion members, is owned by the huge Chinese tech company Tencent. This is the 5thbiggest company in the world, and is helping China to rapidly replace cash and enable Chinese citizens to digitally pay for all their goods and services. Over $50 billions of transactions in 2018 was carried out on WeChat, with WeChat handling over 48 BILLION messages a day!
In a recent survey, WeChat and Alipay (owned by Alibaba) were found to be responsible for over 50% of transactions, while cash had slipped...