The People’s Bank of China (PBOC) has been working on the development of a digital version of the country’s fiat currency, the renminbi, for several years now. Known as the digital yuan, this new form of currency is being tested in several pilot cities, and it is expected to be…
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The People’s Bank of China (PBOC) has been working on the development of a digital version of the country’s fiat currency, the renminbi, for several years now. Known as the digital yuan, this new form of currency is being tested in several pilot cities, and it is expected to be…
The People’s Bank of China (PBOC) has been working on the development of a digital version of the country’s fiat currency, the renminbi, for several years now. Known as the digital yuan, this new form of currency is being tested in several pilot cities, and it is expected to be…
The new function will appear in a mobile application developed by the People’s Bank of China. Payment of bills can be made without linking a bank card. Chinese residents will be able to pay their electricity bills in crypto yuan using a mobile app developed by the People’s Bank of…
The Crypto Yuan was first used in China to buy plane tickets, and Spring Airlines began accepting this form of payment in Shanghai. The first ticket paid in CryptoYuan, worth ¥ 560 (about $ 86), was purchased on a Shanghai-Shenzhen flight, marking the beginning of the use of Chinese cryptocurrency…
Last week News.cn published photos of a CryptoYuan hardware wallet that does not require a smartphone. Despite rapid economic development, about 38% of China’s population still does not use smartphones. That is, about 680 million people will not be able to use government cryptocurrency functions that are available on smartphones.…
Chinese e-commerce giant JD.com has added support for the crypto yuan. Crypto yuan can be used to pay for a range of goods in the online store of the retail chain JD Digits. We will remind, earlier the authorities of Suzhou announced a lottery of 20 million crypto yuan (~…
Last week in the cryptocurrency market has become a test for the bulls. Market growth, which continued over the past few weeks, was called into question in the middle of the last reporting period. On the night of February 15-16, the cost of the “first cryptocurrency” fell below the $ 10,000 mark,…
Faced with the opportunities and the threat posed by the Facebook Libra cryptocurrency project, the central bank of China should reconsider the plan for creating a national digital currency (CryptoYuan), says the former head of the People’s Bank of China. According to the South China Morning Post, former People’s Bank…
The digital currency (CryptoYuan) of China will initially appear in Suzhou region for the government workers who will receive 50% of the payments in the new asset for the transport subsidies due to them. 4 state banks will be involved in the issue of CryptoYuan: Industrial and Commercial Bank of…