Posts tagged cashless society
Digital Yuan launched:  towards the end of cash in China?

DCEP also facilitates the battle against money laundering, tax evasion, corruption and financing of terrorism activities. The government can use big data to identify suspicious transactions and control illegal transfers that hinder the country's economic growth.

Read More
A step forward towards a cashless society: The unexpected outcome of Coronavirus

The Central bank has ordered all the banks receiving cash to disinfect it before re-allocating it to the clients. Banknotes undergo ultraviolet and high temperature treatment. They are then stored for a period of 7 to 14 days depending on the region or city they originate from.

Read More