Will China’s central bank digital currency experiment be a success? Offering 50,000 Shenzhen citizens a wallet containing around $30 in a lottery has created momentum. Banning the prospect of any other form of digital money and adopting a rigorous approach to encouraging retailer acceptance has been helpful. The citizens of Shenzhen were ready for CBDC – 2m applied to participate. The architecture of money is changing. The pandemic has led to a collapse in the use of cash around the globe. A desire to avoid touching notes and coins has combined with the expanded availability of cashless payment options in shops and a ... (full story)