China Upgrades Digital Yuan System to Expand Payment, Smart Contract Services
6 Articles
6 Articles
China upgrades digital yuan system to expand payment, smart contract services
China has upgraded its digital yuan infrastructure to integrate a wider range of payment and financial services, unveiling an upgraded central bank system for the digital yuan and a framework for smart contract services aimed at lowering operating costs and expanding the currency's use.
Former IMF executive says China and world need internationalised yuan
Both China and the world need an internationalised yuan in a multipolar global economic environment, a former senior Chinese official has urged in an article that was published as Beijing upgraded its digital-yuan infrastructure to bolster efforts to reshape the US dollar-dominated global financial system. Wider use of the Chinese currency, also known as the renminbi, would support China’s high-quality growth while offering an alternative that c…
The People's Bank of China began its research into digital currency in 2014 and launched pilot programs in late 2019. Since then, the digital yuan has been used for retail payments, public services, and more...
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