People’s Bank of China (PBoC) said the total value of digital yuan (e-CNY) transactions reached 34.5 billion yuan (about $ 5 billion) at the end of June.
The PBoC says that CBDC will be compatible with smart contracts. As can be seen from the project’s whitepaper, the total number of transactions is 70.75 million, spread over almost 21 million private wallets and 3.5 million business wallets. The basic design of the digital yuan is as described in. still on track White paper.
The central bank also provided details of the planned tests for the Beijing Winter Olympics in 2022. In addition, the authorities will continue the existing tests across the country and start new tests.
Tests for the digital currency began over a year ago and were initially limited to four cities, including Chengdu, Shenzhen, Suzhou, and Xi’an, and only available to people in the new white paper.
They later opened their doors to the public through lotteries in four cities and expanded into other cities including Shanghai and Beijing. At the moment, China has not disclosed the exact timing of the introduction of the central bank digital currency.
Veronica
According to Coindesk
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