I watched a video today:
https://m.youtube.com/watch?v=WWY7A221hwAChina is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.
Yep, that is the problem with China really, everything is controlled and it has to be in the hands of "loyal" people. As a westerner I dislike the system, but I have to say that it does seem to work reasonably well in the last decades. That is, if you don´t consider global warming and heavy pollution in the equation.