The fundamental issue: any payment system built on identity verification and geographic licensing becomes a tool of control, not freedom. WeChat Pay dominates China precisely because it enables seamless payments AND government surveillance. X Money will face the same tradeoff - the more "useful" it becomes, the more it must comply with regulations that limit who can transact with whom.
The fundamental issue: any payment system built on identity verification and geographic licensing becomes a tool of control, not freedom. WeChat Pay dominates China precisely because it enables seamless payments AND government surveillance. X Money will face the same tradeoff - the more "useful" it becomes, the more it must comply with regulations that limit who can transact with whom.