The roaring 20s: will China be first with a central bank-backed digital currency?
It seems fitting that China - the first country in the world to invent paper money - should also be the first to go cashless. But could it create more problems, particularly for payments, than it solves?
We are barely two weeks into 2020 and the topic of central bank-backed digital currencies (CBDCs) – central banks’ answer to open platform crypto assets such as bitcoin, and a counterweight to the threat of hegemony inherent in Facebook’s proposed Libra coin – is back in the headlines.
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