The Bank of China made a statement about the Digital Yuan. While the interest in Digital Yuan in China is increasing day by day, steps will be taken towards its popularization.
Bank of China to popularize Digital Yuan
China is undertaking pioneering work in digitalization in the financial world, and important work on digital currencies. In particular, we can say that the Chinese Central Bank has become a pioneer in this field.
Although China is against cryptocurrencies, it is expanding its strategy for the digital currency Digital Yuan. In a statement made by an official from the Central Bank of China, it was stated that the rise in Bitcoin will contribute to the adoption of Digital Yuan.
Although the name Digital Yuan is not completely clear, beta tests are currently ongoing. In addition, Digital Yuan can be used in stores in pilot application areas. While the interest of the citizens in the Digital Yuan is increasing day by day, it is planned to be put into use in a very short time.