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Although the People’s Bank of China (PBOC) has not officially released a report on the test, analysts are positive on the overall score on the digital yuan public test.The People’s Republic of China through the People’s Bank of China (PBOC) completed the one-week-long public test on the new Digital Yuan
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The leader in blockchain news, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source
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Central Bank Digital Currencies (CBDCs) are rapidly gaining prominence in discussions around the future of money. The many dimensions of debate, whether policy, economic or financial, whittle down ultimately to design choices. With CBDC experiments in various stages of development globally, the norms of design are still being explored. It
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Chen Yulu, deputy governor of the People's Bank of China, said over the weekend the digital yuan project should be accelerated as an important part of the nation's financial infrastructure. Source
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After years of rumors and leaks on Chinese social media, Shenzhen residents became the first in the country
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The rapidly growing city of Shenzhen will be giving away 10 million yuan (US$1.47 million) of China’s new sovereign digital money via lottery, as China seeks to test out and stimulate the usage of the digital funds, according to a report in the South China Morning Post. Source
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A local report suggests the pilot is an indication the digital yuan is close to being launched. Source
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An official for China’s central bank has unveiled usage statistics of state-backed digital currency trials that were conducted in three Chinese cities.Speaking virtually at the Sibos 2020 conference on Monday, Fan Yifei, deputy governor of the People’s Bank of China, said the bank opened 113,300 consumer digital wallets and 8,859
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The leader in blockchain news, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source
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Mobile apps may not be the only medium for storing and transacting China’s digital yuan, according to the Terms and Services agreement from a major Chinese bank. The roll-out of China’s central bank digital currency may include hardware wallets as well. Over the weekend, China Construction Bank (CCB), one of the
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