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 nearly 40% cryptocurrencies face an uphill struggle against distrust to be crowned as its anointed successor.
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.
Here’s a beautiful turn of phrase from a Chinese central bank executive talking about its forthcoming national digital currency: “controllable anonymity.”