In a trial of the country’s digital yuan, people in China conducted around 20,000 transactions through the e-commerce company JD.com. JD.com reported that 80 percent of participants born in the 1980s and 1990s used the platform to conduct transactions in the digital currency starting on Friday night, with at least one transaction greater than $1,527, […]
The Central People’s Bank of China (PBoC) has confirmed that it is prepared to take center stage in a “new battlefield” of digital fiat-based competition. Between sovereign countries and claims that its own new token could help break “dollar dominance.” In its digital yuan project, which is already in advanced testing phases. The PBoC has […]
China’s Ministry of Commerce today announced it would extend the trials of the nation’s digital currency central bank (CBDC) to include Beijing, as well as provinces Tianjin and Hebei. According to a Wall Street Journal article dated Aug 14, there is not yet a fixed time when the Chinese CBDC’s expanded pilot program will begin. Still, […]
China’s central bank’s digital currency is generally known as a way to challenge the supremacy of the US dollar, not Bitcoin (BTC). Yet acceptance in niches where crypto versions of the dollar flourish can be difficult to find, especially Tether (USDT). Charles Yang of Genesis Block explained at the Unitize panel on Monday why DCEP, […]
Japan plans to release its own cryptocurrency following the announcement of China’s launch of the digital Yuan. China started planning its digital Yuan project known as DCEP after Facebook announces its intentions to release Libra. At the moment, China is close to releasing the digital version of its national currency Yuan and Japan is following […]
Central Bank of China deputy director Mr. Mu Changchun announces in his recent media interaction that Digital Yuan will be different from Bitcoin and Stablecoins. According to the South China Morning Post, China’s national digital currency would be a digital form of the Yuan. The head of the digital currency research institute at the People’s […]