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Cashless: China's Digital Currency Revolution
China is changing the very nature of money and borrowing heavily from cryptocurrency to cement its role as the world’s financial technology leader. Cashless is written by the best-selling author of Innovation Lab Excellence, an award-winning expert in fintech innovation, career banker, and technology expert who has experienced China’s cashless revolution firsthand as a former US resident living in China. It reveals ● China’s digital currency can help you better predict and navigate the cashless future coming to the US—and the world ● Your company may be tempted to use China’s digital currency to make cross-border payments ● The EU, UK, Japan, and India are developing digital currencies ● Digital payment will change our relationship with money and promote financial inclusion Cashless shows you the future. It offers a comprehensive analysis of China’s digital payment systems so that you can better prepare for the rise of digital currencies. It is a must-read for all business leaders and professionals looking for a decided competitive advantage.
402 pages, Paperback
Published April 19, 2021
160 people are currently reading
360 people want to read
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Displaying 1 - 15 of 15 reviews
August 17, 2021
Excellent read for anyone looking to dip their toes into understanding Central Banking Digital Currencies and their impending future. Turin provides a comprehensive overview China’s FinTech history and how it is poised to be the global epicentre for financial technology innovation.
Read this for a Moais club with the author. You can view our discussion at moais.com
Read this for a Moais club with the author. You can view our discussion at moais.com
May 25, 2021
A very useful summary by someone who clearly knows what he is talking about. A bit too much self promotion at the beginning, but then the book gets going. More of a fintech approach than an economic policy approach. All in all, a fine read if you are interested in the topic.
June 20, 2023
This is the first time ever I've asked for a refund on a book. I could probably get past the author's autobiographic musings on his career, but the amount of inaccuracies is just stunning from an author who claims to be an expert on payments.
This statement in context of discussing QR vs NFC payments around 15% in was the final straw for me:
It's a smart-sounding but completely empty statement that is totally unrelated to NFC payments. It's very clear the author thinks that "NFC payments" are the same as "NFC tags". You can compare the data stored in an NFC tag with the data stored in a QR code, but NFC payments are way more advanced than that (source: I've worked in card payments for almost 10 years)!
Maybe I am not the intended audience for this book, but an actual expert would be able to describe these concepts high-level while still being factually accurate.
This statement in context of discussing QR vs NFC payments around 15% in was the final straw for me:
NFC codes indeed carry about twice the data payload of QR codes
It's a smart-sounding but completely empty statement that is totally unrelated to NFC payments. It's very clear the author thinks that "NFC payments" are the same as "NFC tags". You can compare the data stored in an NFC tag with the data stored in a QR code, but NFC payments are way more advanced than that (source: I've worked in card payments for almost 10 years)!
Maybe I am not the intended audience for this book, but an actual expert would be able to describe these concepts high-level while still being factually accurate.
April 5, 2022
Read to understand how far behind the USA has fallen
What so many in American government and finance do not understand is the tremendos amount of pre-work and experimental experience and incremental societal benefits delivery is required for transformation. The seller always sets the tune for the consumer dance. The west has focused so much on the energy market they have lost sight of the goods and services and more important the food and medicine the poor masses trade for every day.
What so many in American government and finance do not understand is the tremendos amount of pre-work and experimental experience and incremental societal benefits delivery is required for transformation. The seller always sets the tune for the consumer dance. The west has focused so much on the energy market they have lost sight of the goods and services and more important the food and medicine the poor masses trade for every day.
July 2, 2021
Splendidly written by Richard Turrin, with insightful and deep knowledge of the state of digital currency scenario in China and how the rest of the players, incl. the payment and e-wallets providers in the ecosystem participate symbiotically to access the online services in a cost-efficient manner and secure environment. The strategic philosophy behind the architecture and platform is also well-elucidated by Richard, making the Cashless book such a great read. 👍🏼👏🏼
December 18, 2021
A very technical look at payment systems, cryptocurrency, and CBDCs that presents foundational information on the technology and its implications for monetary and banking policy--all while remaining admirably neutral on the topic of blockchains and cryptocurrency. As someone who works in the field and provides training on these topics, this book will be a go-to resource for me in the future; and a text that I will recommend to everyone as often as possible.
September 3, 2021
Cashless, by Richard Turrin, is a timely (as of 2021) book about Chinese central bank digital currency - how it works under the hood. It's clearly written, and engaging; a quick read. It's a different take than the usual dour, patronizing analysis of Chinese financial policy and practice one sees in US media, and for that reason alone worth a read.
October 11, 2021
Will challenge your thinking about digital currency, the role of banks, and China itself. While best suited to a Financial Services or Fintech reader (chock full of detail), even for a novice like me will leave you marveling how far ahead Chinese digital payments (and currency) is than the West and the role it’s played in bringing millions out of poverty.
January 15, 2023
Absolutely beautifully written. The writer has rich knowledge and great experience on this.
Basically, this book will give you answers years before what reality might give you. In other words, when countries would adapt to CbDC, and how people would react to it, this books tells you what actually you should do. And its very a better technology that would help in big ways.
Basically, this book will give you answers years before what reality might give you. In other words, when countries would adapt to CbDC, and how people would react to it, this books tells you what actually you should do. And its very a better technology that would help in big ways.
April 22, 2021
The rules for a new world order
“Digital currencies don’t follow the rules. They make new ones.” - Richard cuts through the noise and hits the reader with a true account of how digital currency in China is a reality hitting the day to day lives of millions of people with over 300,000 transactions per second. The book is insightful in busting myths surrounding digital currency all the while showing how China is disrupting the financial world. Or better, writing the rules for a new world order.
“Digital currencies don’t follow the rules. They make new ones.” - Richard cuts through the noise and hits the reader with a true account of how digital currency in China is a reality hitting the day to day lives of millions of people with over 300,000 transactions per second. The book is insightful in busting myths surrounding digital currency all the while showing how China is disrupting the financial world. Or better, writing the rules for a new world order.
May 7, 2022
I loved it!! You don’t have to be a professor of economics to understand this book, Richard Turrin makes the knowledge easily accessible for everyone. If you want a peak into the future or f payments, this is the book to read !!
February 6, 2022
must read book
I love this book. I have a glance into the future where cashless is the norm. You can not miss this book.
I love this book. I have a glance into the future where cashless is the norm. You can not miss this book.
April 6, 2022
Good book if you want to dive into Cashless world and see China's example
October 25, 2022
Richard´s book ¨cashless¨ is presented in such a way, that you have the feeling you are having a conversation with him, more than reading a book full of interesting facts and giving a wide view of how digital economy has reached in China to a point that actually cash is nonexistent, as the title of the book suggest.
It is not only a great guide to understand last decade social and economic impacts of the introduction of digital currency in China, even in their less sophisticated version through eMalls such as JD or TMall, but how different eRMB is and what is its potential, its strengths and its challenges.
I would also point out that Cashless also helps to demystify China's financial and regulatory systems, providing many examples of how Western financial systems see China, and how China financial and regulatory systems really are.
I want to see how many of Richard´s educated guesses turn out to be in the following months and years, as this is a brand new world and none really knows how everything is exactly going to turn out.
It is not only a great guide to understand last decade social and economic impacts of the introduction of digital currency in China, even in their less sophisticated version through eMalls such as JD or TMall, but how different eRMB is and what is its potential, its strengths and its challenges.
I would also point out that Cashless also helps to demystify China's financial and regulatory systems, providing many examples of how Western financial systems see China, and how China financial and regulatory systems really are.
I want to see how many of Richard´s educated guesses turn out to be in the following months and years, as this is a brand new world and none really knows how everything is exactly going to turn out.
April 13, 2025
Near future evolution of payment
The author did an excellent job in explaining how China evolved from a cash society to a cashless one and why such evolution is applicable to other countries as well.
I recommend this book as a must read to central bankers, banks and payment fintech companies.
I would rate the book more than 5 if I could because of its comprehensiveness.
The author did an excellent job in explaining how China evolved from a cash society to a cashless one and why such evolution is applicable to other countries as well.
I recommend this book as a must read to central bankers, banks and payment fintech companies.
I would rate the book more than 5 if I could because of its comprehensiveness.
Displaying 1 - 15 of 15 reviews