China’s Digital Yuan DCEP Adopts Multi-identity Authentication Mechanism to Improve User Experience

Jul 2, 2020

China’s central bank-backed digital currency DCEP has designed a unique identity authentication serial mechanism to facilitate the circulation of DCEP in the electronic systems of various businesses. On the premise of ensuring security, the user's identity authentication process gets more...

Hong Kong’s “Libra” Cross-border Stablecoin, the First Movement of China’s DCEP Go Abroad?

Jun 22, 2020

Introduction With the closing of China’s National People's Congress and the National People's Congress in Beijing last weekend, one political proposal sponsored by Nanpeng (Neil) Shen, member of the National Committee of the Chinese People's Political Consultative Conference ...

More Areas are Striving for China’s Digital Yuan Pilot

May 28, 2020

Although the schedule of the second batch of China’s digital yuan pilot is delayed, more regions in China are striving for the trial. In some second and third-tier provinces and cities, local governors expect the application of digital yuan in the local area. For example, in Guizhou provin...

China’s Chengdu to Establish Digital Assets Trading Center, Furthering the CBDC Pilot

May 14, 2020

“Chengdu will accelerate the construction of the blockchain intellectual property pledge & financing service platform, promote the establishment of digital asset trading center to further the China’s digital yuan pilot.” On the morning of May 14, speaking at the 17th Representative of t...

Former BOC President: Digital Currency Will No Doubt Maintain Its Dominance in Future Digital Economic Competition

May 6, 2020

On May 5, Li Lihui, former president of the Bank of China and the head of the blockchain research group of China Internet & Finance Association, gave a live program entitled "Digital Currency: Possible Reconstruction of the Global Monetary System" on People’s Daily Online. ...

The Current State of CBDCs as the PBOC Reveals Digital Yuan Technical Details

May 1, 2020

As the world embraces technology and the Coronavirus pandemic has forced businesses to adopt a cashless approach, several central banks around the world are exploring whether or not they could issue a CBDC to complement cash. A CBDC or Central Bank Digital Currency is the digital form...

China’s Digital Yuan Will Not be Widely Distributed in a Short Period

Apr 21, 2020

A Chinese commercial bank of China is conducting internal testing of China’s digital yuan DCEP wallet, and four cities are listed as outlets, namely Shenzhen, Xiong’an, Chengdu and Suzhou according to 8btc’s report. People in charge of the DCEP from China’s central bank str...

First Application! China’s Digital Yuan Will Be Distributed as Transportation Allowance for Government Employees

Apr 16, 2020

China’s CBDC “DC/EP” will be distributed as a transportation allowance to government employees of Suzhou, a city in southeast China in May. Official documents show the city has required government employees to install digital wallets in April, 50% of their transportation allowance w...

A Chinese Commercial Bank is Internally Testing PBoC’s Digital Currency DCEP Wallet

Apr 15, 2020

On the evening of April 14, Chinese community is flooded with a screenshot of the DCEP wallet which shows Agricultural bank of China is conducting internal testing of PBoC's digital currency DCEP wallet. On October 28, 2019, an official from Chinese government think tank said C...

How Will China’s Digital Currency Electronic Payment System Influence Financial Institution

Jan 15, 2020

China announced its own Digital Currency Electronic Payment system, or DCEP, that it had been researching for five years. Further updates on the project have made no attempt to hide the scale of China’s ambition. The article would like to predict the impact of DCEP on financial i...