 "China's digital track")
China is quickly transitioning away from paper currency, with even beggars and street musicians using QR codes in big cities. Alipay and WeChat are the two dominant technologies in use in the country, and they are eclipsing cash almost completely as a payment option. According to consulting firm iResearch, in 2016, mobile payments in China were worth about $5.5 trillion, approximately 50 times the United States’ $112 billion.
Source: World Economic Forum
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