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China Launches Digital Yuan ‘Hard Wallet’ Card Pilot Program

The Man’s Bank of China (PBoC) have green lighted a physical card-wallet pilot to test its digital yuan. Coffee boutique staff in a Shanghai-based university hospital was chosen as participants in the pilot.

Wallet Card Can Pay or Accept e-CNY Without Wi-Fi or a Transportable Connection

According to Tencent News, staff members at Shanghai Jiao Tong University School of Medicine’s Tongren Sanitarium used the digital yuan token to pay for food. They used a point-of-sale device and a physical card with a feel put down screen in the top right corner.

China Launches Digital Yuan 'Hard Wallet' Card Pilot Program

The card reveals how much digital yuan remains in the wallet. Local media gunshots claim that the Postal Savings Bank of China is in charge of providing technical support. The “hard wallet” allows crew to buy products such as a cup of coffee or snacks.

One of the photos featured in Tencent’s article also shows a hospital staff associate holding a card with 144.75 yuan on it and three offline payments available. The latter feature allows people to pay or permit e-CNY transfers without Wi-Fi or a mobile network connection.

Digital Yuan Tests Still Taking Charge in Several Chinese Cities

So far, the digital yuan pilot programs have been underway internally in Chinese burgs such as Shenzhen, Suzhou, Xiongan, Chengdu, preparing for the Winter Olympics — an event which is still scheduled to extract place in 2022.

Although local experts have warned that there is still “a long way to go” before the token can be fully organized, PBoC officials believe that the digital yuan could be launched before the Olympic event.

The central bank points to attract as many domestic and foreign spectators as possible to use the digital yuan. The Chinese government’s plans points to reducing dependence on the USD.

What do you think about the ongoing digital yuan tests? Let us know in the comments section lower than beneath.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Tencent News

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