QR is King
Mobile payments are quickly rendering cash obsolete in China.
If you're wondering about inspiration for Libra, see this excellent piece on the ascendancy of WePay and Alipay in China. Most compelling for me is how it works as a conditional backdoor from capital controls. Would love to know more about how that works.
Mobile payments are quickly rendering cash obsolete in China. This new digital infrastructure shuts out foreigners—and follows citizens all over the world.