The introduction of China's digital yuan has played an important role in promoting financial inclusion by making financial services more accessible and affordable to underserved populations. By reducing the reliance on physical cash and integrating the digital yuan into everyday transactions, even in areas with poor network connectivity, the e-CNY has helped to bring unbanked or underbanked individuals into the financial system.
By reducing reliance on physical cash and democratizing access to banking services, the digital yuan serves as a model for CBDC use to boost financial inclusion, according to the WEF report 'Global Financial Inclusion Practices: Case Studies from China, India and the USA,' published on October 8. The report heaps heavy praise on the communist regime for having implemented a programmable digital yuan.
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