A Video Of Purchasing Digital Yuan Appeared On The Network

The authoritative portal 8BTC posted a video that allegedly demonstrates the conversion of the national currency of the PRC into its digital version.

Viral video

The portal says this video was originally published on the WeChat social network.

A video of leaked on #WeChat showed how to use the system developed by Agricultural Bank of China to convert RMB into DC/EP, #China 's #CBDC . pic.twitter.com/RiJto2ExnK

— 8BTCnews (@btcinchina) May 28, 2020

You can see how an unknown user transfers 50 yuan from his current account to a DCEP wallet presumably developed by Agricultural Bank of China specialists.

Testing the digital yuan is in full swing

Earlier we wrote that the Chinese government has sped up the developing a national digital currency. This was connected with the escalation of the trade war with the United States, as well as the economic losses caused by the Covid-19 pandemic.

Besides, officially 19 of the country's largest stores and restaurants, including giants such as McDonald’s and Starbucks, are taking part in beta testing.

Statement by the Head of the People's Bank of China

After this rather resonant publication, the head of the People’s Bank of China, Yì Gāng, called on the media not to speculate on this topic. He said they still didn`t have a clear schedule and the project possibly would not work at all. He confirmed that a lot of work has already been done, but there is still a long way to go.

Read More: The Launch Date Of The Digital Yuan Remains UnclearPrecedents for the recognition of the legal status of cryptocurrencies in ChinaCongressman: We Can't Let China Beat Us

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