The Launch Date Of The Digital Yuan Remains Unclear
The head of the People’s Bank of China Yì Gāng called on the media not to speculate on the imminent release of the digital yuan. He said, they have not approved a clear schedule yet, besides, the launch may not happen at all.
Sensation in the Global Times
Once the authoritative Chinese edition Global Times published information about the soon launch of the digital yuan, the manager of the People’s Bank made a statement. From the information provided by insider’s data, due to the Covid-19 pandemic and the trade war with the United States, Chinese authorities speed up work on state cryptocurrency, so the finished product may be launched in the near future.
Testing the digital yuan in McDonald’s and Starbucks
An official said that testing the yuan-based payment system together with McDonald’s and Starbucks is being carried as a full-time scientific and technological process.
“Pilot testing is a routine part of the research and development process, which don’t mean the official launch of a digital yuan. There’s no timetable for an official launch,” the manager of the Central Bank of China explained.
The bulk of the work is done
He says, most of the work has already been done, but the regulator needs all the time to test stability, practical value, usability, applicability on various resources, etc.
There is an opinion on the internet, that the Digital Yuan To Be Released Ahead Of Time. We also wrote earlier that McDonald’s and Starbucks will take over the digital Yuan. More interesting, that almost 53% of the bitcoin hash is controlled by only two Chinese companies.