The People’s Bank of China has confirmed that the country intends to have its Digital Currency Electronic Payment (DCEP) system ready for use at the 2022 Winter Olympics.
As Reuters reported on August 25, China’s Central Bank held a press conference where its head of monetary policy Sun Guofeng updated the media on the country’s policy direction amid the ongoing Coronavirus pandemic.
Part of the address saw Sun touch on the ongoing development of China’s proverbial Digital Yuan. The DCEP is being actively tested in a number of metropolitan areas through Banks and a handful of mobile payment platforms since April 2020.
The Daily Chain has frequently covered the steadily moving testing of the DCEP, which will be expanded to a few more large Cities in the country. These major cities include Beijing, Tianjin, Hebei, Yangtze River Delta, Guangdong as well as Hong Kong.
Continue read: https://thedailychain.com/chinas-central-bank-reaffirms-goal-to-have-digital-yuan-ready-for-2022-winter-olympics/
