Bitcoin

China will test digital-yuan (CBDC) in more and more cities and towns

The Chinese Ministry of Commerce announced that there are more and more Chinese cities, will be tested with the use of the digital, the yuan, the central bank of digital currency (CBDC) in China. According to the official statement (please note that PDF the and Chinese, are all of these cities are located in the north China region and Beijing-Tianjin-Hebei, the eastern part of the Yangtze river Delta, and the Greater Bay Area surrounding the Pearl River Delta, and some of the towns and cities in the Midwest of China.

Step-by-step

At the end of June, we reported that the digital yuan, to the back,’ finished, according to Wang Zhongmin, at least. He has served as a vice-president of the National Fund of the social security system in China. And earlier this month wrote that 8BTC is that the major commercial Chinese banks in the test were captured using digital wallets, for BROUGHT, such as the CBDC, from China, is going to be called. It is also a reminder that the launch of a digital currency is getting closer and closer to coming. BROUGHT, or to the DC/EP, a Digital Currency, Electronic Payment.

On the 3rd of August, said the People’s Bank of China (PBoC, the central bank of the Prc), the legal trial of a digital currency, has been successfully launched in the first half of the year, and the research and development of “active-but careful progress” in the second half of the year.

The Project for the long-term

The Chinese central bank has for many years been engaged in the development of a digital currency. Already in 2014, the PBoC as a team, and the issues to examine in relation to the issue of the digital currency, the most important of the technologies, as well as relevant international experience. In 2017, invited the PBoC commercial banks and institutions in order to work on the ontwikkelinge of a digital policy. And all this time, we are working hard to get a good working product to be delivered, and it would appear, therefore, that the digital and the yuan almost become part of the.

If BROUGHT will be launched remains to be seen. In previous announcements, said the People’s Bank of China, the winter Olympic Games in 2022, it is a good idea, it would have been. But it can be earlier or later, there is still no official announcement of when the BROUGHT final is released.

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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