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Tag Archives: China DCEP

Shanghai Pushing for Inclusive Finance with New Digital Yuan Pilot

Nov 1, 2021

Olusegun Ogundeji

The city of Shanghai is seemingly reaching a new height in its effort to position itself as a major player in China’s race to gain greater influence in digital-age global governance particularly with the use of its digital yuan.  As the Feb 2022 proposed launch date for China’s central b...

Digital RMB Highlights China’s Largest Trade Event

Sep 6, 2021

Olusegun Ogundeji

China’s leading exhibition in the field of trade in services is in progress with a digital RMB avenue on site.  This year's edition of the China International Fair for Trade in Services (CIFTIS) is the first time that the event, in its seven sessions, will have such an area ded...

China Makes First Zero Fee e-CNY Futures Market Cross-Bank Payment

Aug 23, 2021

Olusegun Ogundeji

The digital yuan (e-CNY) has been used for the first time to complete a transaction in the futures market.  Dalian Commodity Exchange, a Chinese futures exchange based in Dalian in the Liaoning province,            used the digital currency to pay storage fees to Dalian Liangyu...

Media Reports on China’s DC/EP Drawbacks, Risks 

Jun 1, 2021

Olusegun Ogundeji

In the wake of a rebuttal by the former director of the digital currency institute that its DC/EP is not to monitor citizens’ payments, two China-focused media reports have highlighted some of the drawbacks to the CBDC. Yao Qian, a former People’s Bank of China (PBoC) official, ...

Bitcoin Drops as Chinese Financial Bodies Berate Crypto Use 

May 19, 2021

Olusegun Ogundeji

The price of Bitcoin fell by about $2,000 on Tuesday May 18 shortly as three major finance-related bodies in China released a statement warning investors against engaging in speculative crypto trading. According to the timing on the CoinGecko crypto aggregator price chart, the sharp nosedive...

Fingerprint ID Coming to New DC/EP Card

May 7, 2021

Olusegun Ogundeji

Fingerprint authentication technologies are coming to a new card-based digital wallet solution for the Digital Currency/Electronic Payment (DC/EP) according to an expanded collaboration between China's Chutian Dragon and IDEX Biometrics announced on Wednesday May 5. Chutian ...

China Behind Bahamas, Cambodia on CBDC Maturity – PwC Index

Apr 30, 2021

Olusegun Ogundeji

The first edition of the PwC Global Central Bank Digital Currency (CBDC) Index has shown that The Bahamas and Cambodia are the two countries leading China in terms of their central banks’ level of maturity in deploying their own digital currency. Designed to monitor the ongoing...

China Trying to Dominate Blockchain, Control Digital Universe

Apr 16, 2021

Olusegun Ogundeji

In the wake of Coinbase’s historical debut as the first crypto company to make its stock market debut through a direct listing on the Nasdaq on Wednesday April 14, a former Trump administration Trade and Manufacturing Policy assistant Peter Navarro has argued on Wednesday that China is...