For instance, China has moved so fast into a cashless society, where everyone pays for everything with a mobile phone, that Chinese newspapers report beggars in major cities have started to place a printout of a QR code in their begging bowls so any passer-by can scan it and use mobile payment apps like Alibaba’s Alipay or Tencent’s WeChat Wallet to contribute to the beggar’s mobile payment account. “America has been dreaming of becoming a cashless society,” Ya-Qin Zhang, president of Baidu, China’s main search engine, remarked to me, “but China is already there.” It has “leapfrogged the rest of world” and is now going mobile-first in everything. And in an age when raw data from the internet of people and the internet of things is the new oil, the fact that China has 700 million people doing so many transactions daily on the mobile internet means it’s piling up massive amounts of information that can be harvested to identify trends and spur new artificial intelligence applications. Get the full story at The New York Times