The digital yuan is not in demand in China

People's Bank of China cryptocurrency is not in demand at the 2022 Olympics. Local media write about it.

The digital asset was launched on Friday last week. However, judging by the reports, he is not interested in the guests of the Olympiad and local residents. They are more likely to use other payment options like Alipay and Visa cards.

Despite a not-too-good start, the Chinese authorities are focusing on the digital yuan. For its implementation, special smart cards have been issued, promotions are being held, and cryptocurrency is being introduced in other digital payment options.

Some analysts point out the privacy concerns that come with e-CNY. For example, according to a professor at Cornell University, security and functionality during payments are related to the type of wallet that the user chooses.

 

 

For example, if you use digital wallets in which registration is carried out only by phone number, then limited functionality will be available. Higher-end wallet accounts will offer users more regulatory and client features.

Also, speaking about the 2022 Olympics, it is worth noting the release of unique NFTs launched for sale by Alibaba. In the near future, the sale of 8888 copies of 4 different tokens with images of athletes involved in figure skating, speed skating, freestyle and other sports will also start. These NFTs will be available for purchase until February 20 on Taobao and Tmall.

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