“Virtually all of these patent applications relate to integrating a system of digital currency into the existing banking infrastructure.”
China has been leading the way when it comes to digital payments by average consumers in the country. While such payments in the United States like Apple Pay are becoming more widely accepted, in nearby Japan such methods are still relatively rare. Alipay has been offering residents of China the chance to use fiat currency for everyday transactions, seemingly acclimating them for the day both payment and currency become 100% digital.
Read More: https://cointelegraph.com/news/china-takes-additional-steps-to-digitise-the-renminbi
