Digital currency
                    Pic credit - Wall Street Journal.   

              Digital currency with more privacy can make more people adopt it , Recently China adopted a new digital currency technique called Digital Yuan . The digital currency is viable , easy to use , safe and also very fast to transact . There are many options like Apple pay , Samsung pay , Google pay available but the digital yuan is more easy and fast then all other options available . The most notable thing which comes is the currency will soon also be available for offline use so that people won't have the issue to pay the bills remote areas where there are some network issues . With all of this comes a point which we all need to know is the transaction fees and that is totally 0 for now (p.s. especially for merchants for now)  so it's just like using your normal currency which we use now . The UI of the digital application just look like the real note in the digital format as shown above.  The digital currency can also be scanned via barcode scanners. 


            As of now many people not only in other countries but also in China use other digital means like Apple pay , Google pay , Ali pay and many more  which are all third party methods which are not Directly connected with the main Central Bank , so the Digital Yuan introduced by Chinese government is direct connected to Central Bank of China so no third party interaction. This will reduce the risk of getting  hacked and lose money drastically. But there comes some disadvantages too and that is the central bank will have the whole detailed information about where the person spent the money to which particular person where did that person used his money and all this can make impact for the foreign traders which means the Chinese Central Bank will have the information about the foreign transactions too. And not only that the method is also under work in other major countries like USA & Japan  too. 


             Normally I don't talk much about the Chinese development , but with this said now what about India , is there any chance to adopt it ? I guess there are chances for now it is right for India to observe and then react . As if this gives an negative impact in the foreign trades then this will be the most negative effect for the traders . So it's better to get to know things quietly as Indian government cannot be like chinese so it is better to know more about things and also to find out how will this effect to the economy . And if this all fits in a right place then this things can be the green signal for the country like India to use this too as this will give a major mobile technology growth in the country .