As of June 30, 2021, e-CNY (the digital version of fiat currency issued by the central bank) has been applied in over 1.32 million scenarios, covering utility payment, catering service, transportation, shopping, and government services.
„More than 20.87 million personal wallets and over 3.51 million corporate wallets had been opened, with transaction volume totaling 70.75 million and transaction value approximating RMB34.5 billion,” according to the the People’s Bank of China (PBOC) report.
Supported by local governments budget, some cities distributed red packets of e-CNY to consumers. While some pilots involved users under different real-life use cases, large-scale tests were also arranged. The pilot program tested the business and technological designs as well as robustness of the e-CNY system, user experience of the product and the applicability of use cases. It also raised the public awareness of the e-CNY.
„The PBOC will continue to prudently advance the pilot e-CNY project in line with China’s 14th Five-Year Plan, with no preset timetable for the final launch”, the central bank concludes.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
