After its app reportedly recorded more than 16 million downloads in its first week of release, China has started rolling out the digital yuan (e-CNY) to athletes and spectators who are in the country for the Beijing Winter Olympic, public broadcaster CCTV has reported. It is the firs...
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...
The President of the U.S. Chamber of Digital Commerce has highlighted reasons why she thinks the U.S. has to keep up in the digital currency space in the face of existential dominance threat from China. Perianne Boring, while talking about what the Chinese government is doing, not...
China’s Digital Currency Electronic Payment (DCEP) project is gathering a lot of momentum as the actual realization seems more realistic with every passing event. Having executed a successful pilot program in Shenzhen, and working towards another test in Suzhou, discussions between Hon...
China is working towards achieving an indigenous digital currency that is backed and controlled by the state. The Chinese government’s activities so far towards achieving this goal has earned it a leadership role among the several nations that are pursuing similar objectives. As a matter of fac...
DCEP, China’s digital yuan was used to create the so-called “red packets”—financial incentives that the recipients were able to spend at designated merchants in Luohu, a district in the Chinese city of Shenzhen. The 50000 “red packets” has a denomination of 200 CNY each. The “...
The third-party payment method of e-commerce enterprises affords lessons to China's digital currency, and completely gets rid of the development ideas of traditional e-currency. China’s digital yuan adopts blockchain system in security verification as well. China's digital currency not only ...
Firms that are timely prepared for the rollout of China’s digital currency electronic payment (DC/EP) project stand to benefit in about five ways from the effect it will have on the global economy, two authors have shared on the London School of Economic Business Review blog page. Jem...
The time for China to focus more on using its own financial messaging network to settle cross-border transactions in the mainland, Hong Kong and Macau is near, a new report by BOC International (BOCI) has suggested. Co-authored by a former director of the international payments departm...
Authors: Aditi Kumar, Jeremy Ney, Eve Lee, Victor Ji China piloted a national digital currency in April 2020. The European Central Bank has convened a working group of major economies to coordinate digital currency research and development. The U.S. Federal Reserve said it was...
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