• digital yuan tests success
    Cryptocurrencies,  Politics

    China calls digital yuan tests a great success

    However the launch of the central bank digital currency will not be soon, as a legal framework still needs to be created

    Speaking at the Hong Kong Fintech Week conference on Nov. 2, Yi Gang, a governor of the people’s Bank of China, said nearly $300 million of digital yuan has been spent in various pilot programs.

  • Huawei digital yuan controllable anonymity
    Politics,  Regulation,  Technology

    Huawei promises ‘controllable anonymity’ on new flagship smartphone’s digital yuan hardware wallet

    The embattled tech company says that users will ‘benefit’ from privacy features and a ‘safe and convenient payment experience’ on the first smartphone to support the digital currency

    Huawei has announced that its new range of smartphones will support hardware wallets for the digital yuan. In a post uploaded to its Weibo page, the tech giant claimed that the Mate 40 is the first device to support China’s upcoming digital currency.

  • digital yuan work AliPay WeChat Pay

    China’s digital yuan will not compete with AliPay or WeChat Pay

    Despite threatening an anti-trust investigation this summer, the head of China’s digital currency said it will co-exist with the two dominant mobile payment services

    Mu Changchun, the head of the research institute for digital currency at the People’s Bank of China, said that the central bank digital currency won’t compete with the two services, which together hold 94% of the market.

  • Russian digital ruble
    Politics,  Regulation,  Technology

    Digital ruble coming as soon as 2021

    The head of Russia’s central bank said a pilot program could come next year, and promised confidentiality but not anonymity

    While nothing has been decided, the possibility of launching a digital ruble “is quite real,” she said. It will not replace the physical ruble, she added. The digital ruble project “fits very organically into what is called the development of the digital economy as a whole,” Nabiullina said. “A digital transformation is taking place. Of course, there must be a transformation of the settlement system.”