77 - China's Digital Currency Revolution | Richard Turrin

Richard Turrin is the best selling author of Innovation Lab Excellence, and recently published his new book Cashless: China's Digital Currency Revolution. This new release covers the story and context of China’s new Central Bank Digital Currency (CBDC) and the innovation happening in that space. In this episode, Richard walks us through the efforts China has made to innovate within its Fintech platforms, and how it poses a long-term threat to US Dollar dominance. With smart contracts on the way, what does the world look like with a maximally successful Chinese CBDC? Listen in and find out. In this episode's exclusive debrief, we dive into all the questions we didn't have time to ask and explore how big of a challenge CBDCs pose to crypto. Get it here: https://shows.banklesshq.com/p/exclusive-debrief-chinas-digital  ------ 📣 PoolTogether | DeFi's No-Loss Lottery Protocol https://bankless.cc/PoolTogether  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ Topics Covered: 0:00 Intro 9:30 Richard Turrin 12:03 Where The US Went Wrong 16:34 China’s Last 10 Years 23:10 Comparing the User Experience 30:00 A Cultural Divide 38:17 A Regulatory Divide 47:00 Central Bank Digital Currencies 57:43 Digitized vs Digital Currency 1:05:19 Benefits of a CBDC 1:14:48 The Design & Smart Contracts 1:25:00 Verification and KYC 1:30:57 China’s International Ambitions 1:35:43 The Impact on Crypto 1:39:13 When the West Wakes Up 1:42:03 Closing & Disclaimers ------ Resources: Richard on Twitter https://twitter.com/richardturrin?s=20  Cashless: China's Digital Currency Revolution https://www.amazon.com/Cashless-Chinas-Digital-Currency-Revolution/dp/1949642720/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr=  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures