CBDC is China"s new digital money, actively tested by the People"s Bank. Pilot projects were launched in which 1.1 billion yuan are involved. The Deputy Head of the NBK noted that more than three million transactions were processed as a result of testing.
Also, officials confirmed that in the near future a pilot project will be launched in the largest megacities in China. The NBK plans to introduce digital currency at the Winter Olympics, which will be held in 2022 in the capital.
The regulator tested 6,700 options for the use of new means of payment, taking into account the state, transport and utilities sectors.
To pay with cryptocurrency, you must use a special barcode. Also, contactless payment technology is connected.
Information was published that within the framework of the pilot project, 8,800 wallets for corporate digital currency and 113,300 wallets for personal use were created.
Thus, the PRC seeks to be the first to enter the digital market with its own currency, which should, by all expectations, squeeze the American dollars.