Page 3 - E Cny News Today

Limited anonymity is a key feature of the digital yuan, Mu Changchun, director-general of the central bank's Digital Currency Research Institute said, noting it ensures reasonable anonymous transactions.

Chinas digital yuan transactions hit 83 bln yuan in first 5 months-

Chinas digital yuan transactions hit 83 bln yuan-

Transactions of China's digital fiat currency, the e-CNY, hit 83 billion yuan ($12.33 billion) by the end of May this year, the country's central bank said Wednesday.

Chinas digital yuan transactions hit 83 bln yuan in first 5 months-

Tech giants, commercial banks and local-level governments in China further promoted the use of digital yuan in the run-up to and during the June 18 or "618" shopping carnival and carried out trials in more fields like lending and tax refunds.

Central banks are unlikely to use blockchain for minting digital currencies, as other database technologies are often just as secure and custom solutions may be more secure.

China’s digital currency has been piloted in cities across the country and used by tens of millions of Chinese. But analysts say its adoption overseas will ultimately depend on trust in the country’s institutions and markets.

America pays high price as it tries to shut out Chinese companies, deny them access to advanced technologies and erode their supply-chain advantages.

The e-CNY is now available to students at Hainan Luxun High School through a device that gives parents control over spending and phone calls, which comes amid expanding trials for the digital yuan.