China has been the pioneer of many innovations in the world in recent years.
After the material innovations, China's new target digital currencies, which is the innovative side of the financial sector. China has been working on the Digital Yuan project for a long time . These studies started to take a concrete form. The digital Yuan is being used in the canteen of a university hospital in Shanghai, China. This place will be a good pilot area. Researchers are going to check all useage and efficiency of dijital yuan. After the research, China are planning to use another test ranges such as, hospitals, government offices, government banks etc.
Last year;
Alipay, the financial arm of Chinese tech giant Alibaba, applied at least five patents related to PBoC's digital currency from January 21 to March 17 2020.
Bty the way, the People's Bank of China supporting Dijital Yuan usage in pliot area. Digital Yuan, which works without Wi-Fi and mobile internet connection, uses e-CNY technology.
The photo, taken from the pilot site, shows Digital Yuan. It also shows the spending on the card. It can be seen that 144.75 Yuan remains on the card in the image.
China continues to work on the Digital Yuan and wants to finish these studies in the 2022. Their target is 2022 winter Olympics.
China are planning to open Dijital Yuan usage to the public for the first time in those days. Therefore, Chinas has already started to use some pilot areas. Researchers are planning to increase pilot areas around to China and collect some data about usage of Dijital Yuan Card.
Resources:
https://www.koinfinans.com
https://bctr.org
https://www.coinkolik.com
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