MacDonald’s, Starbucks Becomes the First to Test China Central Bank Digital Currency on Ground Level
Starbucks, McDonald’s, and Subway could try China’s central bank digital currency “Yuan”. The tests could take place in the city of Xiong’ a New Area.
Restaurant chain partners Starbucks, McDonald’s, and Subway could go to test China’s Central Banks Digital Currency. InterchainPulse, the local media outlet reported telling that it was “exclusively” posted about a “pilot promotion meeting” of the digital currency held in Xiong a New Area.
The meet was arranged by the rebuild and development bureau of the Xiong a New Area management committee, Several digital currency research and development institutions, as well as pilot merchants, were as guest participants.
As per schedule, listed 19 pilot merchants, Starbucks, McDonald’s and Subway were specified, per the report.
The famous Chinese chain of little kids shops Qing – Feng Bazoi is also on the invited list members with others. These have local hotels, convenience stores, stuffed bun stores, a bakery bookstore.
Other associates consisting employees from the Xiongnu branches of four main commercial banks – the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China and the China Construction Bank, as well as representatives from Tencent and Alipay.
First level steps in Xiongnu’s new area are mostly focused at food and retail companies, per the report. Experiments in Suzhou city, on the contrary, are basically planned at domestic level employees, as Bitcoinik reported last week.
Various new progress has started in recent weeks about China’s National Digital currency. Last week the Agricultural Bank of China and Bank of China were said to be boating a wallet app for the digital yuan.
A representative from China’s central bank also recently agreed that some state banks are taking internal tests of digital currency in four cities Shenzhen, Suzhou, Xiong’an New Area, and Chengdu.
The bank official ahead stated that the digital currency could also be used in the 2022 winter Olympics event, projected to launch by mid -2021.
China’s central bank has been researching digital yuan since 2014. Earlier this year, the central bank said the digital currency is “progressing smoothly” and that its “top-level” design has been completed. The official launch date, however, still remains unknown.
