(People’s Daily) China is edging closer to the rollout of a digital yuan after launching a pilot version of the currency, which can be downloaded on Apple and Android App stores.
The new pilot wallet, issued directly by China’s central bank, will be accessed by users in select cities, including Beijing-based individuals in the zones of the city where the Winter Olympics will be held.
The Chinese government expects to fully roll out the wallet in Beijing and potentially countrywide, by the time games start on February 4.
The People’s Bank of China expects the digital yuan users to familiarize with the wallet, including the management protocols, exchange, and circulation following the pilot rollout.
The China’s central bank also aims to make sure that even those without a smartphone can access the digital token. The bank is testing various hardware wallets and smart card-like features for offline use.
The digital yuan is now used by 100 million users each month on the country’s biggest mobile operator, China Mobile.
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