• China testing digital yuan
    Cryptocurrencies,  Politics

    China testing digital yuan in four cities

    European and Asian countries have been scrambling to catch up in the race for a digital currency, even as the U.S. drags its heels; annoucement suggests no 2022 Winter Olympics roll-out

    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.

  • crypto’s use as currency is growing
    Cryptocurrencies,  Technology

    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.

  • Coming not-so-soon?
    Cryptocurrencies

    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.