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yuan: The Central Bank of China will lead the digital yuan pilot test

2019-12-24 11:31:34

Our article today is focused on the yuan, because according to the flight that has been taking we will talk about digital yuan pilot test.

  On December 9, a very relevant information came to the public, and that the Asian giant has a pilot plan in order to publicize its first virtual currency, that is its central bank digital currency (CBDC), something that was published by the agency Caijing, because what is decided is that the first city that this pilot presented to us is Shenzhen, because this will happen at the end of 2019, because, also among its initial plans could be Suzhou, in one way or another pay off its first virtual currency, and it will surely give a lot to talk about giving way to the yuan to gain global importance as well.

Why does digital yuan pilot test have banks running?

 With the goal set in the cryptocurrency that has between eyebrow and eyebrow to launch China and the central bank, 4 important banks are associated, among which the popular bank of China can be highlighted, but that is not all, because it presents a boom huge where some participants like Telecom, because these are the ones who will test the use of payments through digital currencies, in such a way that Caijing has textually explained “One step will be to rationally select the pilot verification area, the scenario and the scope of the service , and constantly promote the introduction and application of the digital form of fiat currency, "because this is where other details are made, because the evidence is one of these, which makes the specifications of this currency can be executed in a much more comfortable to wear.

 Why is it described as a yuan pilot test digital horse race?

 This is a term that has been given to it, since it is a process that is moving quite quickly, because the objective that China has is to achieve the world of digital currency, because in this way a unique option is presented and it is that each bank has the option of managing the digital currency in different ways, because this with the sole objective of penetrating more in the world market, then, this is presented as a competition with a vision for the future. It is important to make it clear that to date, when the year 2019 is about to end, there are some details of which there is no knowledge in itself, but everything points to competitiveness.

We have reached the end of our article related to the yuan and all that it entails in terms of virtual and digital currency yuan pilot test.

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