The expectation is that the e-CNY will generate competition. The e-CNY will coexist with Alipay and WeChat Pay (the two largest payment providers, respectively part of Alibaba and Tencent), which currently dominate China’s payment system with a near duopoly. Other banks and payment service providers will be classed as Tier 2.5 institutions, able to provide services to e-CNY users. These Tier 2 institutions can disseminate e-CNY issued by the People’s Bank of China, which represents Tier 1 at the top of the pyramid. These players will be classed as Tier 2 institutions, through which the public can open e-CNY accounts/wallets. First, a small number of large distributors gives it both control and confidence that the distributors can scale up operations and, second, that data remains secure. The six major state-owned banks (Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, Industrial and Commercial Bank of China, and Postal Savings Bank of China), together with the two largest internet banks (WeBank, backed by Tencent, and MY-Bank, supported by Alibaba’s Ant Group) are involved. The PBOC has actively involved a number of large financial institutions in its early rollout.
#Slow burn hendersonville Offline
Each of the test cities served a different purpose: for example, Beijing tested conversion of the digital currency into cash and vice versa Shenzhen’s younger consumer market tested the rigour of small ticket high frequency transactions and the city was also used to test cross-border usage with Hong Kong residents and Suzhou tested near field communication (NFC) payments and offline transactions. Many of these are only at the preliminary stages, whereas China has already field tested its digital currency within major cities. To China’s credit, the PBOC is well ahead of most western central banks. The PBOC is targeting broad coverage of China’s population, which could reshape the payments industry over the coming years. Expectations are that an official launch could coincide with the February 2022 Winter Olympics in Beijing – which would offer a useful marketing ploy to showcase China’s technological prowess. The project has been seven years in the making, with a research group first formed back in 2014. "I don’t really expect myself to be the next New York Times selling author, I really just wanted to get my book out there and just show people how I think," he said.ĭrake's book is available on Amazon for $15.99.The People’s Bank of China cannot be accused of hurrying the Digital Currency, Electronic Payment (DCEP) project, the acronym for its central bank digital currency, which is likely be known by the market as e-CNY when it officially launches. "It’s a little concerning because my signature can be a little sloppy," said Dyer.īecause anyone can "slow-burn" a dream, but it takes courage to dive right in. Drake will have a few books on site for purchase if you don't have your own. "Two months ago I couldn’t even imagine this," he said.ĭrake's bosses at Slow Burn Hot Chicken were so impressed they're throwing him a book signing party Monday April 18, from 7 to 9 pm. "You get 60 percent royalties and you place it on Amazon and it’s live," Dyer said.Īlready, he's sold close to 100 copies and gets to track it in real-time. Then, Drake discovered authors can self-publish books through Amazon. "Researched publication companies and things that other people my age or older have done in the past, and I just wanted to see what I could do to get this published," said Dyer.
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The more burning question would be how to release it. "It’s more suspense, mystery with also some science fiction in it," he said. "With two jobs along with schooling," Dyer added.Īfter eight months of work, Drake had a collection of short stories he's entitled "4:46" - in honor of his favorite short story contained in the pages. Inspired by his favorite author, Stephen King, he purchased an old typewriter and started writing and rewriting when he had moments to spare.
"Honestly, I had a few ideas and I thought, you know what, I might as well turn this into a collection." "I just think it’s important for people to get their words out," he said.
"I feel like I’m an observer, I always take notes and take mental notes about things I see, conversations I hear," Dyer said.īetween those notes and vivid imagination, Dyer decided he had several stories he just had to share. Dyer said during occasional lulls in the action, he's inspired by what he sees and hears.
The 17-year-old works at Slow Burn Hot Chicken in Hendersonville, when he's not going to school or learning how to drive. (WTVF) - How many of us have been told at some point, you're too young to chase that kind of dream?ĭrake Dyer is proud of the fact he didn't listen.
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