The People’s Bank of China (PBoC) said in an April 17 release that its prototype, central bank-issued digital yuan is being put through its paces in Shenzhen, Chengdu, Suzhou, and Xiong’an, which lies about 60 miles from Beijing. It will also be tested at the 2022 Winter Olympics in Beijing.
Although ranked last for trustworthiness, crypto’s use as currency is growing
60% of those polled are currently using cryptocurrencies for day-to-day purchases or plan to do so within a year, according to an Economist Intelligence Unit survey
Although nearly 40% cryptocurrencies face an uphill struggle against distrust to be crowned as its anointed successor.
China pilots state-issued digital currency
Despite that, a real central bank digital currency could be a long way off, a Chinese publication reported; Huawei deeply involved
China announced plans to launch real-world test of a central bank digital currency on Dec. 9. But an actual central bank digital currency is probably not coming very soon, the article said.
Controllable anonymity: China goes full Orwell on digital yuan
The head of the People’s Bank of China digital yuan project promises the central bank is ‘not seeking full control of the information of the general public’
Here’s a beautiful turn of phrase from a Chinese central bank executive talking about its forthcoming national digital currency: “controllable anonymity.”