China’s Central Bank Digital Currency won’t be Blockchain-based or rival to Alipay- Rich Turrin

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In an interview with China Banking News Turrin said China’s central bank digital currency (CBDC) will instead mark an evolution from pre-existing payments systems created by tech giants such as Alipay and WeChat, as practical challenges mean that the blockchain is not the best technology to use for its underlying foundation.
In an in­ter­view with China Bank­ing News Tur­rin said Chi­na’s cen­tral bank dig­i­tal cur­rency (CBDC) will in­stead mark an evo­lu­tion from pre-ex­ist­ing pay­ments sys­tems cre­ated by tech gi­ants such as Ali­pay and WeChat, as prac­ti­cal chal­lenges mean that the blockchain is not the best tech­nol­ogy to use for its un­der­ly­ing foun­da­tion.

Continue read: https://www.financialtechnologyafrica.com/2020/06/03/chinas-central-bank-digital-currency-wont-be-blockchain-based-or-rival-to-alipay-rich-turrin/