December 1, 2022

Copy-paste | Bitcoin will take root in China, and that's why

China is making a decisive breakthrough towards digitalizing the economy and moving away from traditional cash. He probably soon realizes that he cannot continue to fully move this course without accepting bitcoin and other cryptocurrencies.

Celestial China recently shocked the world, taking a coursedigitalization of cash and a blockchain-friendly economy. Earlier, the BeInCrypto editorial has repeatedly written about the large-scale campaign of China to mass adoption of new technologies in all areas of life. With the help of the blockchain, Beijing hopes to modernize its economy and bypass key geopolitical rivals.

Over the past few years, Chinesethe economy has actively focused on the wider introduction of cashless payments. Using systems like Alipay or Weibo, in China you can pay by phone for almost any product. According to Bloomberg statistics, a revolutionary leap occurred between 2015 and 2016. During this period, the volume of transactions in China using non-cash payment methods soared to an impressive 382%. At the moment, non-cash payments have become the norm for the Chinese.

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