Spurred on by the now flailing Facebook cryptocurrency Libra, China fast-tracked development of its own form of digital money that it initially thought would compete with the social network’s but now may have vast portions of the global market to itself, particularly in Africa.

Wall Street Journal reporter Steven Russolillo produced a short 5-minute explainer video on the new Chinese digital currency that everyone in Africa would be well-advised to watch because there is a very good chance this new payment method will become integrated into the continent’s mobile ecosystem that is increasingly dominated by Chinese companies.