Topic Reading-Vol.3629-3/19/2022

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Topic Reading-Vol.3629-3/19/2022

英語で世界を知ろう!Topic Reading

2022/03/19 Topic Reading-Vol.3629-3/19/2022

Dear MEL Topic Readers,

Digital yuan will make payments easier and curb corruption

China is advancing payment digitalization even further. Most people have been using mobile payments for nearly everything, including shopping, transportation, and even loan applications extensively or even exclusively. Alipay and WeChat Pay are the dominant mobile payment platforms. Now, the central bank is issuing Digital RMB (renminbi), or e-CNY, to replace physical currency and internationalize the digital currency. The e-CNY is basically the same as physical money but it is transferred in a digital form. It has been tested in various places for some time, and nearly 17 million apps had been installed as of the end of February. It seems we will soon find another QR code shown at retailers and online shops for payment options. Since the e-CNY won’t accommodate money laundering or secretive monetary transaction, bribery and tax evasion may be eradicated if it takes place for physical currency.

If Harry Potter saw Muggles (humans) paying by smartphones, would he want to switch his wand with a smartphone?

Enjoy reading the article and learning about China’s new digital venture.

http://www.chinadaily.com.cn/a/202203/10/WS62294310a310cdd39bc8b939.html

MEL School 三鷹
電話:0422-27-5366
住所 〒180-0006 東京都武蔵野市中町2-3-5 IIHA武蔵野1階
電話受付9時~18時(土日祝祭日を除く)

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