China is rushing towards the development and distribution of a central bank digital currency while the rest of the developed world dithers along at a leisurely and cautious pace.
From comments made by the head of the People’s Bank of China research bureau, Wang Xin, at a briefing late last week it would appear the pace of China’s experimentation with a digital currency, via the Digital Currency Electronic Payment (DC/EP), is accelerating.
It has already distributed – given away – about 200 million yuan ($40 million) in pilot projects in its major cities. Read more…..
Chart of the Day
Icarus TV
Smead Capital Management Chief Investment Officer Bill Smead sat down with Yahoo Finance’s Jared Blikre to discuss Warren Buffett’s investing habits and what investors should look for as the economy reopens.