The digital yuan, the central bank digital currency (CBDC) of China, has already been tested in several major cities across the country. With further rollouts in 2021/2022, we expect to see this digital currency significantly impact a variety of B2C and B2B industries across financial services, retail, transportation, and entertainment. In fact, the digital yuan holds the potential to reshape China’s and possibly the globe’s financial services industry. The above video will show you how Chinese citizens can already use the digital currency across a broad array of use cases.
After watching these use cases across retail, transportation, and travel scenarios, you can learn more about the digital yuan in the recent report, Q&A: Decoding The Digital Yuan, where my colleague Charlie Dai and I address the following questions:
- What is the operating model and technical architecture of the digital yuan?
- What is its potential impact on different industries and financial services firms?
- What do companies and financial institutions need to do to prepare for the further rollout of the digital yuan?
I will also present the key findings of this research in my upcoming complementary webinar on August 5, 2021, 11:00 a.m. SGT/CST at Forrester’s APAC Financial Services Webcast Series 2021. You can register using this link, and I look forward to addressing your questions during this live webinar session!