A review of the impact of artificial intelligence (AI) trust concerns on digital Chinese Yuan (E-CNY) to promote Chinese economic low-carbon sustainable development

Dandan Li ,Nik Hadiyan Nik Azman

doi:10.24294/jipd.v8i1.2238

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A review of the impact of artificial intelligence (AI) trust concerns on digital Chinese Yuan (E-CNY) to promote Chinese economic low-carbon sustainable development

Dandan Li

Nik Hadiyan Nik Azman

Journal of Infrastructure Policy and Development 2024, 8(1); https://doi.org/10.24294/jipd.v8i1.2238

Submitted：12 Jun 2023

Accepted：25 Sept 2023

Published：14 Dec 2023

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Abstract

In April 2023, the government of Changshu City, in Jiangsu Province, China, announced that it would officially use digital Chinese Yuan (E-CNY) as a method of wage payment to the government and state-owned enterprises staff starting in May. With the gradual improvement and application of E-CNY technologies, such as no electricity, no internet payment (offline payment), and the programmability of smart contracts, E-CNY will be officially used in China. CNN said China is on the verge of a cashless society. The advantages of E-CNY have a positive role in promoting the Chinese government’s implementation of the development goals of a low-carbon and sustainable economy. However, artificial intelligence (AI) trust concerns are the primary bottleneck in the current development based on intelligent algorithms and digital information technology. AI trust concerns are affecting the scope of use of E-CNY, and it may need to achieve effective scale-use, making it promote low-carbon and sustainable development. From the industry perspective, this article selects the housing rental enterprises, which are challenging to develop and energy-intensive, to analyze the theoretical approach and practical impact of E-CNY in promoting the low-carbon and sustainable development of China’s rental housing economy. Meanwhile, from the perspective of Chinese consumers, the impact of AI trust concerns on E-CNY in promoting low-carbon and sustainable development is analyzed in this article.

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