CBDC May Have A Profound Influence On the Market Pattern of Receipt And Payment Business, Said Former Vice President of Bank of China
[ChainDD report] September 13 (ChainDD) Wang Yongli, former vice president of The Bank of China, said that the money collection and payment business face fierce competition and reform challenges. Internationally, too, competition is intensifying.
Although Libra is not launched yet, this competitive dynamic is worth keeping an eye on. More importantly, many countries are now developing "Central Bank Digital Currencies" (CBDC).
In addition, major economies are strengthening the supervision of currency receipt and payment, including "cryptocurrency" (digital assets), which will bring challenges to the development of payment and receipt business and require high attention.