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.
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Individuals and businesses will be able to use digital yuan anywhere cash is accepted (Wikimedia Commons)Acceptance of China’s upcoming digital yuan mandatory
Businesses and individuals will be required to accept the central bank digital currency once it is launched, according to a representative of the People’s Bank of China
As a consequence of it being classified as part of the cash supply, the upcoming CBDC will have to comply with the laws that currently regulate cash. This includes the mandatory acceptance of the digital currency as a means of payment.
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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.”
