China Officially Use Digital Yuan, This Is The Proof

Chinese digital yuan comes into use (Nikkei Asia)

JAKARTA - Some time ago, China was reportedly making its own digital Yuan stem the popularity of crypto money in the community. Now China has succeeded in realizing its ambition.

Digital yuan has been officially used in the Bamboo Curtain Country. This is evident from the actions taken by the e-commerce giant JD.com, which pays its employees in digital Yuan.

Previously, China conducted research and development of digital Yuan money. Then they tried it in several cities in China. Now the Xi Jinping government is officially using his digital Yuan.

In October 2021, the Chinese government reportedly distributed digital Yuan worth 10 million Yuan to 500 thousand residents of Shenzhen. The digital Yuan distribution is intended for residents to use for online and offline shopping needs at certain stores.

Before accepting the digital Yuan distribution, residents of Shenzhen are required to register at a certain number of banks to get a share of the digital money distributed by the government.

Digital yuan sharing is a collective effort that includes Chinese regulators, technology providers, and Chinese commercial banks. All of this followed the directions of China's central bank.

Launching Tech Crunch, Tuesday, April 27, major Chinese technology companies have actively participated in the development of the digital Yuan ecosystem. They are also able to assist the Chinese government in better tracking the flow of money.

Not only JD.com implements digital Yuan payments, but there are also Bilibili, Meitu, and Didi platforms that have just implemented digital Yuan for transaction needs. Apart from that, gaming giant Tencent is also implementing the same policy.

Tech giant Huawei has also started releasing digital wallets in its newest smartphones. This allows users to use digital Yuan quickly and efficiently.