Monday, January 18, 2021

Tag: Western Businesses Testing

CV-1984: China Rolls Out Test Of Digital Currency In Four Cities, Western Businesses Testing

by Aaron Kesel, Activist Post:

After the coronavirus caused China to shut down most of its businesses, and cities, the country is now striking back hard by releasing a digital currency and national blockchain.

China’s central bank The People’s Bank Of China, began testing its new digital Yuan’s interface on April 14th with one of its largest banks, the Agricultural Bank of China, rolling out a test UI. Two weeks later, there are reports that a pilot has been launched. Nineteen restaurants and retail establishments including popular Western restaurant chains like Starbucks, McDonald’s and Subway are participating in the test, Bitcoin.com reported. The test run is taking place in at least four cities in China—Shenzhen, Suzhou, Chengdu and Xiong’an, according to China’s central bank which confirmed the test of its new digital Yuan officially called “Digital Currency Electronic Payment (DCEP)” to the Wall Street Journal.