Currently, the digital RMB is confined to domestic use in China, but it is inevitable that it will be used in cross-border trade transactions.
Central to any future engagement with China is a greater application of digital technologies. But this goes way beyond WeChat, the annual shopping event known as Singles Day or even e-commerce.
Future engagement with China includes blockchain development that is compatible with Chinese system development, emerging trade protocols and cross-border trade settlement. Much of this will include China’s sovereign digital currency or digital renminbi (RMB).
