China’s Mobile Payments Show ‘Why Bitcoin Will Succeed’

China is leaping ahead into becoming a fully cashless economy. That’s why it will soon find that it can’t do so without incorporating Bitcoin and other cryptocurrencies.

China has become cashless and blockchain-friendly. As BeInCrypto previously reported, the country is embracing emerging technology in an attempt to out-modernize its geopolitical rivals. It also sees it as the best means of bettering its state institutions.

The Chinese economy has in the past few years been accelerating its focus on cashless payments. Powered by Alipay, Weibo, and others, you can pay for almost anything in China with your phone. As Bloomberg reports, the big jump happened between 2015 and 2016—when transaction values for cashless payments in China jumped 382%. Now, cashless payments have, by far, become the norm in the country. Read More...


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