Asian Games Will Feature Digital Yuan And Metaverse Pilots, According To A Tech Startup

The deployment of the digital yuan and the metaverse in the upcoming 2022 Asian Games has been confirmed by a Hangzhou-based data firm.

The company has participated in the informatization construction and service guarantee of some venues of the Hangzhou Asian Games, and is actively participating in the construction of innovative application scenarios for the digital RMB and the Metaverse Digital Human in the Hangzhou Asian Games. 

The company has made certain technical reserves and research in the research and development of technology applications such as the Internet of Things, digital twins, face recognition, digital identity, digital RMB application, and Metaverse Digital Human.

The secondary development can be applied to the primary application of the digital education metaverse, and can smoothly connect the original physical digital campus with the metaverse digital campus. 

The company has formed a team to actively promote the innovative application of Metaverse in the field of digital education, and is developing technologies such as “chain computing, chain storage, and chain communication”, which will become the technical foundation for the future digital campus Metaverse “digital student” solution. He pays great attention to the dynamics of metaverse technology and applications, and actively explores applications in the field of digital education in the future.

Zhengyuan Data System Engineering revealed that it is developing virtual humans for the metaverse, while working with local banks for digital yuan pilots.

Hangzhou, the host city of the September Asian Games and capital of Zhejiang province

Hangzhou has been a leading bidder to be among the pilot cities for the upcoming batch of digital yuan trials.

China’s central bank has confirmed its support for digital yuan pilots in Zhejiang, after the provincial government hinted the Asian Games will be a key event in showcasing the central bank digital currency (CBDC).

China’s CBDC — the digital yuan, or e-CNY — topped US$11.24 billion in historical transactions by the end of 2021 and had its international debut at the Winter Olympics.

In addition, a metaverse will be built for the Asian Games, with state-owned telecommunication giant China Telecom announcing that a 5G-powered VR/AR viewing platform is in the works for the sporting event.

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