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10 questions and insights from a China fintech expert on its financial technology strategy: “Alipay and WePay have changed the banking landscape”.
10 questions and insights on China’s fintech strategy
- What are main developments you see within the international financial system?
- Do you think China is one of the countries who is taking more aggressive steps in this respect?
- China seems to be moving faster than Europe and the US
- China now promotes Alipay in countries like Canada, where people can get an Alipay account without having a bank account in China
- So Chinese payment providers might develop a new world standard of payments this way?
- So, an Alipay account for everybody worldwide would be a great idea?
- When so many people have a e-wallet it might be interesting for China to develop their own central bank digital currency?
- How long before we see a digital currency developed by the People’s Bank of China?
- Will the new digital currency be an renminbi denominated one or could it be another currency?
- Should the digital currency be blockchain based?