China’s Guangzhou became the first city to launch a pilot function of a digital RMB payment code to pay for bus rides. Passengers can now use the digital yuan (e-CNY) CBDC to pay for public transportation on 10 bus routes through the digital yuan app. Passengers can download the “Digital RMB (Pilot Version)” app in … Continue reading China Guangzhou Public Transport Launches Digital RMB Payment Function
The Guangzhou Housing Provident Fund Management Center has successfully implemented the usage of the Chinese version of the Central Bank Digital Currency (CBDC), commonly known as the digital Yuan, for housing provident fund loans. On June 19th, a lady received a loan of 480,000 yuan through the digital Renminbi (digital Yuan) wallet app, marking the … Continue reading Chinese Version CBDC (Digital Yuan) Applied to Guangzhou Housing Provident Fund Loans
Photo by Fancycrave on Unsplash Market regulator highlights 11 cases where supermarkets and online platforms sold food products that did not meet national food safety standards Zen Soo Celia Chen China’s market regulator has highlighted 11 cases of supermarkets and online platforms selling food products that did not meet national food safety standards, some of which are … Continue reading Yonghui, Hema among supermarkets singled out by China's food safety watchdog for breaches
In her view, Edith Yeung, fund manager, and partner at Proof of Capital, a blockchain-based venture capital fund, presumed that the Chinese Government could launch their digital currency, virtual yuan, in no distant time, assumably, within the next six to twelve months. While speaking to reporters at East Tech West conference in the Nansha district … Continue reading Partner at Proof of Capital Presumes That China’s Digital Currency Could Go Live in No Time
During CNBC’s East Tech West conference held in Guangzhou, China, Jun Lu, head of Lufax Technology Center, acknowledged that the optimal potential of blockchain was more exciting than what is offered by cryptocurrencies. Lufax is a reputable comprehensive online wealth management platform, as well as a turnkey technological solutions provider for local governments and financial … Continue reading Blockchain Has "Much More to Offer," Says Lufax Head
China’s central bank digital currency (CBDC) has been successfully launched earlier this year and the country is currently continuing its path towards fully launching its digital currency electronic payment (DCEP). Recently, China’s major state-run banks have been testing out the country’s CBDC, according to Wang Zongmin, a former deputy chairman of the Social Security Fund … Continue reading China Hand-Picks the Greater Bay Area Surrounding Hong Kong to be the First to Deploy its CBDC
The Hong Kong government is considering collaborating with the mainland Chinese authorities on the country’s central bank digital currency (CBDC) project. According to Hong Kong Treasury Secretary Christopher Hui, Hong Kong is most interested in wholesale and cross-border digital currency use cases. China’s digital yuan, mostly focusing on retail transactions, also known as the digital … Continue reading Hong Kong to “Seize the Opportunities” of China’s Digital Yuan CBDC Development
China’s digital yuan pilot in four of its cities has recorded nearly $300 million in transactions according to the head of the People’s Bank of China. Yi Gang, Governor of the People’s Bank of China said that the digital yuan pilot program that has been rolled out in four major Chinese cities is making great … Continue reading PBoC Governor Yi Gang Reports $300 Million in Digital Yuan Pilot Transactions
China announced 15 pilot zones for testing the application of blockchain technology for several service sectors. The Cyberspace Administration’s official Wechat social media account said that the pilot zones include areas in Beijing and Shanghai, as well as Guangzhou and Chengdu in the southern Guangdong and Sichuan provinces respectively. The announcement which came via a … Continue reading China Announces 15 Pilot Zones for Testing Blockchain Tech
Hong Kong University of Science and Technology (HKUST) has chosen to ride in the waves of digital innovation and blockchain technology. In a press release, the academic institution announced its intention to establish the world’s first physical-digital twin campuses in the Metaverse. This, the university believes, would enhance the teaching and learning experience. Therefore, the … Continue reading HKUST Designs First Virtual Campus in the Metaverse