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China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume.
Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part.
China’s push for blockchain technology gained steam after 2019 when President Xi Jinping called for corporations from tech giants to become industry leaders in the nascent tech.
The service provider also announced the launch of a new system upgrade to increase yield efficiency.
The total crypto market capitalization dropped by 6.9% in one week, while derivatives metrics reflect increasing demand for bearish bets.
The Metaverse development plan requires various municipalities to track NFT technology trends and integrate metaverse into education and tourism.
Scan and pay with e-CNY is now available in multiple Chinese cities for citizens looking to ride their local buses and subways.
The total crypto market capitalization dropped to the $1 trillion support, and weak stablecoin demand and a largely absent funding rate reflect traders’ negative sentiment.
Under the pilot test, parents could enroll their children in after-school vocation programs via smart contracts.