Here’s how much digital yuan used at Olympics, according to PBoC
Foreign users tend to use hardware e-CNY wallets more at the Olympics, while domestic users mainly go for software wallets. The 2022 Winter Olympics participants, visitors and organizers could be spending more than $300,000 in China’s digital yuan every day, according to new reports citing officials from the People’s Bank of China.The e-CNY, China’s central bank digital currency (CBDC), is being used to make 2 million yuan ($316,000) or more worth of payments each day, PBoC’s Digital Currency Research Institute director-general Mu Changchun said. The official provided the data during a....
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The 2022 Winter Olympics in Beijing were the first time the entire world heard about China’s first official digital currency: the digital yuan. According to a Reuters report quoting officials from the People’s Bank of China (PBoC), the 2022 Winter Olympics participants, tourists, and organizers might be spending more than $300,000 everyday in China’s digital […]
The People’s Bank of China (PBOC), the Chinese central bank, has revealed how its central bank digital currency (CBDC) is being used at the Beijing Winter Olympics. A top PBOC official says, “It seems all the foreign users are using hardware wallets.” Digital Yuan’s Latest Trial A top official from the Chinese central bank, the People’s Bank of China (PBOC), provided an update of the latest trial of the Chinese central bank digital currency (CBDC) during a webinar arranged by the Atlantic Council Tuesday. The digital yuan, or e-CNY, is currently being....
China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022. China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top central bank official.Li Bo, deputy governor of the People’s Bank of China, said that the upcoming Winter Olympics could potentially become the first test of China’s central bank digital currency, or CBDC, by foreign users.“For the upcoming Beijing Winter Olympics, we were trying to make....
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....
In commiseration of the Tokyo Olympics, which started July 23rd, Phemex brings their own version of the Olympics. The Phemex trading Olympics values align with those of the actual Olympics, which accepts people of all walks of life. Integrating sports and crypto trading, Phemex presents the “Phemex Olympics: United Through Trading.” The Phemex Olympics: United […]