The pilot version of digital yuan wallet app has been out and people in China are sharing its screenshots on social media.

On April 14, 2020, the first <a href="https://twitter.com/lingzh1220/status/1250119684076134400?s=20" target="_blank" rel="noopener">screenshot</a> of the wallet app was shared by the executive director of M&amp;A, Global Fiat, Ling Zhang via tweet. Later, the CEO of cryptocurrency exchange Binance, Changpeng Zhao, also re-tweet the images.
<h2>Digital Yuan Wallet App Screenshot Shared</h2>
While sharing the screenshot of digital yuan wallet app on twitter, Ling Zhang, announced that the company has launched the application in the four cities of China, which were shortlisted for the initial trial.

The selected Chinese cities are Shenzhen, Chengdu, Suzhou and Xiongan. The executive director further stated that Xiongan is the new metropolitan city of China, which has been located on the outskirts of Beijing. She also pointed out that Xiongan is also the site of Smart City Brain Project of China.
<h2>Xiongan Becomes New Metropolitan City </h2>
As Xiongan is a part of the Smart City Brain Project, therefore, it would have an enhanced intelligent infrastructure to connect satellite information services, sensor recognition, 5G network, supercomputing and big data facilities.

Since the day the city has become a part of the project many tech giants like Tencent, Alibaba, JD.com and Baidu get attracted towards it. Even the President of China, Xi Jinping has visited this site for more than a time.

The CEO of Binance, when retweeted Ling Zhang’s screenshots, he appreciated the work of the country for rolling out the trial of digital yuan, so soon.

According to a report, although the world is fighting with COVID-19 crisis, China is working hard and stimulated its work to develop the central bank digital currency (CBDC).

On March 24, 2020, the Bank of China claimed to have finished the basic development function of the digital currency. It also stated that currently, they have been working on drafting laws so that they could implement the CBDC soon.

You May Also Read.
<ul>
 	<li><a href="https://www.cryptoknowmics.com/news/people-bank-of-china-moves-forward-to-boost-its-blockchain-network/">People Bank Of China Moves Forward To Boost Its Blockchain Network</a></li>
 	<li><a href="https://www.cryptoknowmics.com/crnewsypto/fcoin-founders-relatives-allegedly-intercepted-and-blocked-from-leaving-china/">FCoin Founder's Relatives Allegedly Intercepted and Blocked From Leaving China</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/china-based-bitmain-reveals-two-high-speed-bitcoin-miners/">China-based Bitmain Reveals Two High-Speed Bitcoin Miners</a></li>
</ul>

China Introduces Pilot Version Of Digital Yuan In Four Cities

The pilot version of digital yuan wallet app has been out and people in China are sharing its screenshots on social media.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

China Introduces Pilot Version Of Digital Yuan In Four Cities

Top Picks