Social Media Giant Wechat to Support China’s CBDC, Platform Expected to Boost...
China’s social media giant, Wechat has said it will support the digital yuan in a move that is expected to increase the of Chinese residents that use the central bank’s digital currency (CBDC). Wechat’s support of the digital yuan potentially avails the digital currency to the social media’s 800 million active users. New App Provides Access to CBDC Wechat, one of China’s biggest messaging and payment apps, is reportedly set to support the digital yuan, China’s CBDC. The addition of the CBDC to the social platform is expected to boost the adoption....
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Leading Chinese banks are promoting the digital yuan over Alipay and WeChat Pay for an upcoming shopping festival in China. Some of China’s largest state banks are actively promoting the digital yuan as a superior means of payment to the country’s two leading payment providers, Alipay and WeChat Pay.In an April 26 report, Reuters revealed that six of China’s largest banks are promoting China’s nascent central bank-issued digital currency, or CBDC, in Shanghai ahead of an online shopping festival on May 5.The banks are urging retail outlets and consumers to download the digital wallet and....
Tencent Holdings’ WeChat has suspended various accounts that promote digital collectibles, a term that is commonly used in China to refer to non-fungible tokens (NFTs) that cannot be purchased or traded using cryptocurrencies. WeChat — China’s biggest and most popular social media platform with a user base of over 1.2 billion — said that the primary […]
Innovative digital experiences are e a top priority for the coffee giant. Introducing social gifting is an intriguing idea that can be quite successful in China. Paying for Starbucks coffee can be done in a multitude of ways. Cash, payment cards, or even Bitcoin are all acceptable payment methods. But WeChat feels left out, and came up with a plan to rectify the situation. Through a strategic partnership between Tencent and Starbucks, a new social gifting feature has been created. This brings a new era of mobile payments to coffeeholics all over the world. WeChat its one of the most....
I. The flaws of centralized social media platforms & the problems can be solved by their decentralized counterparts Today we use social media applications such as WeChat, Discord, Twitter, and Facebook to transcend spatial/temporal limits and communicate with others, thereby minimizing the time needed for communication or social interaction. However, such centralized social media platforms […]
While WeChat isn't as popular outside of China as WhatsApp, it is ubiquitous on the mainland. WeChat, China's largest messaging app and one of the country's most popular payment services, will start supporting the Chinese government's digital currency.On Jan. 6, 2021, Tencent announced that it will begin accepting digital yuan payments via its proprietary mobile wallet WeChat Pay, according to a local news report. China has been developing a digital yuan since 2014, and it has yet to be implemented nationwide. If people start paying for goods and services with WeChat, which has more than 1....