#NetizensVoice
RMB is going to level-up!
(19 Apr) Recent reports from China stated that a digital currency created by People Bank of China (PBOC) is going to launch and it’s currently being tested at Suzhou, China and part of the salaries will be released in the format of digital currency.
Within the month, the public organization and enterprises in Suzhou – Xiang Cheng District in China would distribute salaries via Agricultural Bank of China (ABC) to its employees; installation works of PBOC digital currency (DC/EP) is going to be completed.
In May 2020, 50% of transaction allowance from the salaries of employees will be released by digital currency.
This is only a start. According to the plan, 30%-50% of physical currency will be replaced by PBOC digital currency over the country in coming 2-3 years; which could basically implement the digital currency of PBOC over the country, most of the physical coins and notes will be replaced.
Yes, you’d read it rightly, PRC official digital currency is going to launch. It will be the first political regime in the world to issue digital currency, which ties with its country currency.
So, how’s the development of digital currency by PBOC?
Before the night on 14 Apr 2020, a photo taken during the testing at the digital currency bank of ABC had been spread online. Information stated that digital currency of PBOC is testing in 4 cities, they are Shenzhen, Xiong An, Chengdu and Suzhou in China.
From the abovementioned screen-capture, showing the main function is similar with the daily payment and management on the basic function of a virtual bank account, such as first page on the digital wallet of ABC, listing four common functions of “Paid by QR code”, “remittance”, “payment receipt”, “touch-touch”.
Source: Internet
#DigitalCurrency #China #Suzhou
RMB is going to level-up!
(19 Apr) Recent reports from China stated that a digital currency created by People Bank of China (PBOC) is going to launch and it’s currently being tested at Suzhou, China and part of the salaries will be released in the format of digital currency.
Within the month, the public organization and enterprises in Suzhou – Xiang Cheng District in China would distribute salaries via Agricultural Bank of China (ABC) to its employees; installation works of PBOC digital currency (DC/EP) is going to be completed.
In May 2020, 50% of transaction allowance from the salaries of employees will be released by digital currency.
This is only a start. According to the plan, 30%-50% of physical currency will be replaced by PBOC digital currency over the country in coming 2-3 years; which could basically implement the digital currency of PBOC over the country, most of the physical coins and notes will be replaced.
Yes, you’d read it rightly, PRC official digital currency is going to launch. It will be the first political regime in the world to issue digital currency, which ties with its country currency.
So, how’s the development of digital currency by PBOC?
Before the night on 14 Apr 2020, a photo taken during the testing at the digital currency bank of ABC had been spread online. Information stated that digital currency of PBOC is testing in 4 cities, they are Shenzhen, Xiong An, Chengdu and Suzhou in China.
From the abovementioned screen-capture, showing the main function is similar with the daily payment and management on the basic function of a virtual bank account, such as first page on the digital wallet of ABC, listing four common functions of “Paid by QR code”, “remittance”, “payment receipt”, “touch-touch”.
Source: Internet
#DigitalCurrency #China #Suzhou
Not Binding to a Bank Account, China will Push Digital Currency in the Greater Bay Area, Aim to Replace Notes and Coins.
In July, Lithuania, an Eastern European country, was the first in the world having a digital currency issued by Central Bank. Now China's Ministry of Commerce is preparing to launch a test on digital Renminbi. It announced the proposal of "Overall Plan for Comprehensively Deepening the Innovative Development of Trade in Services" yesterday, which stated several eligible regions across the country to become digital RMB test sites.
These test sites include the Jing-Jin-Ji region, Yangtze River Delta region, Midwest China, and the Greater Bay Area (Pearl River Delta). The People's Bank of China (PBoC) will formulate policies to support the development of the digital currency, then will promote in Shenzhen, Chengdu, Suzhou and the Xiongan New Area, as well as in the winter Olympic venues, before expanding to other regions, based on the results in these pilot areas. The PBoC has collaborated with multiple internet companies, such as DiDi and Meituan Dianping, to study the application of digital currency.
Fan Yifei, Vice Governor of the PBoC, said that China's digital Renminbi was the effort to replace banknotes and coins, and to maintain the attributes and key features of banknotes while satisfying the need for portability and anonymity. Unlike WeChat and Alipay, which are popular in China, digital RMB does not require any bank account or bank card to be tied for payment.
At the video conference held by the PBoC on August 3, it mentioned that the testing of the digital currency had started smoothly, and would actively promote its research and development (R&D) in the second half of this year. Although the digital RMB was being tested on a pilot basis, the Governor of the PBoC, Yi Gang, stressed that this was just part of the R&D process. It does not mean that China officially launch the digital RMB, nor there is a timetable for its launch. He believed that the research, development and application of legal tender could meet the public's demand for legal tender in the digital economy and enhance the convenience, security and anti-counterfeit standard of retail payments.
#Renminbi #DigitalCurrency #PBoC
Source: Unwire #Aug15
https://unwire.hk/2020/08/15/digital-rmb-trial-confirmed/life-tech/
In July, Lithuania, an Eastern European country, was the first in the world having a digital currency issued by Central Bank. Now China's Ministry of Commerce is preparing to launch a test on digital Renminbi. It announced the proposal of "Overall Plan for Comprehensively Deepening the Innovative Development of Trade in Services" yesterday, which stated several eligible regions across the country to become digital RMB test sites.
These test sites include the Jing-Jin-Ji region, Yangtze River Delta region, Midwest China, and the Greater Bay Area (Pearl River Delta). The People's Bank of China (PBoC) will formulate policies to support the development of the digital currency, then will promote in Shenzhen, Chengdu, Suzhou and the Xiongan New Area, as well as in the winter Olympic venues, before expanding to other regions, based on the results in these pilot areas. The PBoC has collaborated with multiple internet companies, such as DiDi and Meituan Dianping, to study the application of digital currency.
Fan Yifei, Vice Governor of the PBoC, said that China's digital Renminbi was the effort to replace banknotes and coins, and to maintain the attributes and key features of banknotes while satisfying the need for portability and anonymity. Unlike WeChat and Alipay, which are popular in China, digital RMB does not require any bank account or bank card to be tied for payment.
At the video conference held by the PBoC on August 3, it mentioned that the testing of the digital currency had started smoothly, and would actively promote its research and development (R&D) in the second half of this year. Although the digital RMB was being tested on a pilot basis, the Governor of the PBoC, Yi Gang, stressed that this was just part of the R&D process. It does not mean that China officially launch the digital RMB, nor there is a timetable for its launch. He believed that the research, development and application of legal tender could meet the public's demand for legal tender in the digital economy and enhance the convenience, security and anti-counterfeit standard of retail payments.
#Renminbi #DigitalCurrency #PBoC
Source: Unwire #Aug15
https://unwire.hk/2020/08/15/digital-rmb-trial-confirmed/life-tech/
Unwire.hk
數碼人民幣大灣區落實試推 毋須綁定銀行卡 目標取代紙幣硬幣
東歐國家立陶宛於 7 月成為全球首個，由中央銀行發行數碼貨幣的國家，如今中國商務部亦準備開展數碼人民幣測試。中國商務部昨日公佈《全面深化服務貿易創新發展試點總體方案》，當中提到在全國多個符合條件的地區將會成為數碼人民幣試點。
#OpinionArticle #TangHao
Why does the Chinese Communist Party (CCP) accelerate launching digital Renminbi (RMB)?
Editor’s note: Below is a summary but very close to the script of the first part of the video which is about digital Renminbi.
(15 Aug) The Ministry of Commerce of the People's Republic of China had an announcement on 14 August about "Complete intensify trial locations for a new transaction service with innovative technology". 28 locations in China have been selected as trial locations to promote digital RMB. Besides the first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, sites include Yangtze River Delta Economic Zone, Guangdong-Hong Kong – Macao Greater Bay Area (GBA), Urumchi, Xian and Midwest Chinese cities, etc. In April this year, Chinese National media reported that the trial campaign of the digital RMB in a closed system has already been started in Shenzhen, Suzhou, Xiongan New Area and Chengdu. We have discussed that in our channel. Just less than four months till now, CCP can't wait anymore to extend the trial location to 28 places over China. CCP's reaction shows the urgency in launching digital RMB. We have many newly joined subscribers on this channel. Let's have a revision of some key points first.
1. Easy to manipulate the quantity of currency and stimulate the economy
2. Tracing in all dimensions results in surveillance civilians
3. Control capital movement and prevent capital outflow
4. Restructure economy with “waste banknotes”
5. Establish a new currency system to confront USD and avoid sanction
6. Expand the penetration internationally for the United Front and surveillance the world
Full Translation:
https://telegra.ph/Why-does-the-Chinese-Communist-Party-CCP-accelerate-launching-digital-Renminbi-RMB-08-30
Source: Tang Hao’s Crossroad of the World Youtube Channel
⬇️⬇️⬇️Watch
https://youtu.be/dylZZJJldaU
Translated by: Hong Kong Echo
Further reading:
China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan
https://bit.ly/3jwlS30
#DigitalCurrency #RMB #Sanction #Surveillance #SWIFT #Banknotes
Why does the Chinese Communist Party (CCP) accelerate launching digital Renminbi (RMB)?
Editor’s note: Below is a summary but very close to the script of the first part of the video which is about digital Renminbi.
(15 Aug) The Ministry of Commerce of the People's Republic of China had an announcement on 14 August about "Complete intensify trial locations for a new transaction service with innovative technology". 28 locations in China have been selected as trial locations to promote digital RMB. Besides the first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, sites include Yangtze River Delta Economic Zone, Guangdong-Hong Kong – Macao Greater Bay Area (GBA), Urumchi, Xian and Midwest Chinese cities, etc. In April this year, Chinese National media reported that the trial campaign of the digital RMB in a closed system has already been started in Shenzhen, Suzhou, Xiongan New Area and Chengdu. We have discussed that in our channel. Just less than four months till now, CCP can't wait anymore to extend the trial location to 28 places over China. CCP's reaction shows the urgency in launching digital RMB. We have many newly joined subscribers on this channel. Let's have a revision of some key points first.
1. Easy to manipulate the quantity of currency and stimulate the economy
2. Tracing in all dimensions results in surveillance civilians
3. Control capital movement and prevent capital outflow
4. Restructure economy with “waste banknotes”
5. Establish a new currency system to confront USD and avoid sanction
6. Expand the penetration internationally for the United Front and surveillance the world
Full Translation:
https://telegra.ph/Why-does-the-Chinese-Communist-Party-CCP-accelerate-launching-digital-Renminbi-RMB-08-30
Source: Tang Hao’s Crossroad of the World Youtube Channel
⬇️⬇️⬇️Watch
https://youtu.be/dylZZJJldaU
Translated by: Hong Kong Echo
Further reading:
China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan
https://bit.ly/3jwlS30
#DigitalCurrency #RMB #Sanction #Surveillance #SWIFT #Banknotes
Telegraph
Why does the Chinese Communist Party (CCP) accelerate launching digital Renminbi (RMB)?
#OpinionArticle #TangHao Editor’s note: Below is a summary but very close to the script of the first part of the video which is about digital Renminbi. (15 Aug) The Ministry of Commerce of the People's Republic of China had an announcement on 14 August about…