DCEP Trials Continue in Shenzhen, Another $3 Million in Red Packets Distributed

Jan 25, 2021

Following the success of previous trials of the upcoming digital yuan payment system, the city of Shenzhen has launched another major pilot program aimed at utilizing the central bank digital currency. According to the latest report from Chain News, China’s prime source of blockchain-related ...

A Global Perspective on Central Bank Digital Currency

Jan 21, 2021

Author: David Kuo Chuen Lee, Li Yan &Yu Wang To see the inserted pics clearer, plz visit the original link: https://www.tandfonline.com/eprint/AWTEU83UT8HDAVEAPS27/full?target=10.1080%2F17538963.2020.1870279& ABSTRACT This paper discusses the ke...

Over 10000 Merchants Participate in 2nd Digital Yuan Test in Shenzhen

Jan 11, 2021

The Shenzhen government said it will give away 20 million yuan (92.5 million baht) via "red packets" - gift envelopes traditionally given out during holidays and special occasions - to residents of Shenzhen's Futian district via a lottery. A total of 1861758 individuals in Shenzhen successf...

Another Round Of Digital Yuan Test To Kick-off In Shenzhen On January 7

Jan 6, 2021

China has continued with the process of testing its Central Bank Digital Currency (CBDC), otherwise known as Digital Currency Electronic Payment (DCEP). This time, the real-life test has returned to the city of Shenzhen where a similar test was carried out in the last quarter of 2...

The “Double 12” Shopping Event Sees Nearly 20,000 Digital Yuan Transactions

Dec 17, 2020

While the success of all of the digital yuan trials conducted in China so far is undisputed, few have managed to gain major momentum and truly test out the system’s capabilities. However, the latest major shopping event that took place in the country during the weekend proved to be the perfect t...

E-CNY Realizes Synchronously Online and Offline Payments Within 0.5 Second in China’s Suzhou Trial

Dec 15, 2020

Suzhou pilot has multiple innovation scenarios, with more than 10000 offline merchants participating At 8 PM last Friday, more than $3 million dollars in digital yuan was airdropped to 10 thousand residents of Suzhou. The lucky ones now suddenly each had RMB 200, an equivalent of $30, i...

China Likely To Launch Digital Yuan In Time For 2022 Winter Olympics in Beijing

Dec 15, 2020

There are indications that the digital yuan project in China is targeted to go live in time for the 2022 winter olympics to be held in the capital city of Beijing. As reported on Eastmoney, sources close to the project insist that there is still a long way to go before the full launch of the di...

China Crypto Roundup (Dec 7- Dec 14): China and Hong Kong Prepare for Cross-border Digital Yuan Testing, Hong Kong-based Crypto Exchange Halted Withdrawals Amidst Ongoing Investigations in China, China Suzhou’s Digital Yuan Trial Sees Completion

Dec 14, 2020

The top stories from the Chinese cryptocurrency sphere this past week include: China and Hong Kong prepare for cross-border digital yuan testing, CEO Global exchange halts withdrawals as founder is detained in China, China's digital yuan tries to gain a foothold.…… China and Hong K...

Digital Yuan Wallet Balances Has Been Topped up, China’s Suzhou City Gets Ready for CBDC Test

Dec 11, 2020

The “red packet” for China’s CBDC pilot in Suzhou city will come into effect at 20:00 this evening and will be valid from 20:00 on December 11 to 24:00 on December 27. The red packet issued can be consumed in the designated offline merchants in Suzhou city through the "Digital Yuan A...

Zhou Xiaochuan, the Surprisingly Liberal PBoC Governor That Spearheaded the DCEP

Dec 11, 2020

With major pilot projects taking place across the country, the future of the Chinese digital yuan has been the focus of most of the media attention directed towards the country. The country has set its sights on making the digital yuan the go-to currency during the 2022 Beijing Winter Olympics...