The masterminds behind the digital yuan – the forthcoming Chinese central bank digital currency – have provided further explanation about a new “hard” wallet, which makes no use of smartphone technology.
Per Tencent’s media arm, the hard wallet, which resembles a conventional credit card but for a digital LCD readout in its top right-hand corner that lets users know their remaining balances, is being developed with an eye on elderly Chinese citizens, many of whom have little or no IT experience.
As reported earlier this month, the hard wallet is being used in a pilot at the Shanghai-based Jiao Tong University School of Medicine’s Tongren Hospital staff canteen.
This is what China's digital fiat currency, DCEP or e-CNY, looks like in real-world use. pic.twitter.com/gITUG6HF2v
— cnLedger (@cnLedger) January 6, 2021