China's Digital Currency Rollout with Michael Sung
This episode we're talking with fintech expert Michael Sung about China's upcoming national launch of its central bank digital currency (CBDC). Michael is the founding co-director of the Fudan Fanhai Fintech Research Center at Fudan University and the chairman of the cross-border technology-transfer company CarbonBlue Innovations.
Michael and I discuss China's motivation to launch one of the world's first CBDCs, and how it will work alongside WeChat Pay and Alipay. We also chat about what the transition to digital currency will be like for businesses, and finally, how China's use of digital currency could be the beginning of a global trend in favor of the "digitization of value."