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The scope of digital payment in this working paper is divided into two categories: centralized solutions and decentralized solutions. Centralized solutions are further divided into third-party payment and central bank digital currency (CBDC), while decentralized solutions are subdivided into cryptocurrency and digital identity. The development of digital payment systems can be divided into three phases – (1) transformation of traditional payment systems; (2) independent payment systems; and (3) core infrastructure. Phase 1 is the digital payment system we are using now.

Information and Communications Technology and Disaster Risk Reduction Division [email protected]