The Digital Yuan Of China To Integrate Smart Contracts

The working group involved with the research and development of the digital yuan for the People’s Bank of China (PBOC) has published a paper describing the digital currency’s progress. The PBOC initiated a task force dedicated to the creation of a digital yuan in 2014, and the recently published document is the project’s first white paper released in seven years. China’s Digital Yuan Is No Different Than Physical RMB After the creation of Bitcoin and a few years after the cryptocurrency economy started getting recognized, the PBOC was one of the first central banks....

China’s central bank digital currency (CBDC) is moving fast towards its deployment. For the first time since the project was launched over 7 years ago, the People’s Bank of China (PBoC) has released a Whitepaper with the digital Yuan or e-CNY’s most important progress. The project started as a response to cryptocurrencies, such as Bitcoin, […]

China is giving away 10 million yuan in its central bank digital currency in Beijing. Recipients can spend the digital yuan during the Chinese New Year festival. Beijing has become the third major city in China to test the central bank digital currency. 50,000 People to Receive Free Digital Yuan China is actively testing its central bank digital currency (CBDC). Beijing is the next city to receive a digital yuan airdrop. The Beijing municipal government announced over the weekend that it will hand out a total of 10 million yuan ($1.55 million) to 50,000 people in the city who register for....

The People’s Bank of China’s upcoming digital yuan card will feature IDEX Biometrics and fingerprint scanning, according to regional reports. China’s “Digital Currency Electronic Payment” or DCEP is getting closer toward launch by the day. Last week, smart card manufacturer Chutian Dragon and IDEX Biometrics announced the companies are working on a digital yuan payments card. China’s DCEP Will Boast Advanced Fingerprint Identification and Authentication Solutions China’s DCEP continues to make headlines as the crypto asset and central bank-crafted....

Chinese "crypto dad" and ex PBoC director Yao Qian insists digital yuan is not a surveillance tool for the government. China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately owned conglomerates, former People’s Bank of China director Yao Qian said.Speaking at the International Finance Forum in Beijing, Qian argued that simply simulating its physical counterpart would not be enough for the digital yuan to succeed. To fully benefit from being digital, it will move toward the "smart currency" by making use of....