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HONG KONG—China’s Commerce Ministry said it would expand a pilot program for its digital currency to include a number of large cities, advancing a pioneering initiative by a major central bank to launch an electronic payment system.

The digital currency pilot program will cover much of China’s most prosperous regions, the Commerce Ministry said Friday: the capital Beijing and nearby Tianjin and Hebei province in the north; the Yangtze River Delta to the south; and, along China’s wealthy southern coast, Guangdong province and the neighboring cities of Hong Kong and Macau.

https://www.wsj.com/articles/china-to-expand-testing-of-a-digital-currency-11597385324

Attempts to arrest or even contain China's technology advances in financial services will prove to be futile. They are moving rapidly in a wide-open field with a clear mission to own the next generation transactions system.

Quote of the Day

(3) Typically, all the laws constitute an infinite-dimensional affine space which is not a vector space, but the specification of the inertial law provides an origin in this space. Thus we can define the specific force to be the difference between an actual law and the inertial law, and the forces can be added vectorially.
There could be no science or technology without something like feature (3).

F. William Lawvere. Toposes of Laws of Motion, Sept. 27, 1997.