The role of e-cash in China
The introduction of contemporary financial institution card-based digital money (e-cash) in lots of previously laborious cash-dominated nations, akin to China, has provided benefits of security, comfort, interoperability and standardised administration.
Financial institution card-based e-cash retains the forex options of conventional money, with business banks as the principle supply of money provide, however customers of built-in circuit (IC) playing cards switch forex from deposit accounts to e-cash accounts, as a substitute of withdrawing money from banks.
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