China: digital currency testings at McDonald’s and Starbucks

[vc_row][vc_column][vc_paragraph text=”As ChainNews reports, China is preparing for digital yuan usage testings. Several companies and public catering networks have already concluded an agreement concerning the currency.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”PRS virtual currency launches official testing” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Yesterday the Department of reforming and development and The Commission for management of Hong Kong organized a meeting which subject was the researches and development of digital currency.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The meeting was free for merchants, and touched the retail stores and catering services that would test the pilot project of digital yuan.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Among the companies included in the testing there are famous brands such as McDonald’s and Starbucks.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”This is going to be the first step to active implementation of Chinese digital currency.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Actually, Xiong’an Blockchain laboratory was set up at the end of March, and its director Xiong’an Li Jun underlined the two main goals of the project, “One goal is to create a joint blockchain platform that would be compatible with different types of distributed ledger. Secondly, this platform will enable us to study the implementation of blockchain in Hong Kong. We will also integrate and modernize it”.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Many countries are planning to issue their own digital currency. Thus, Japan is studying a system similar to the Chinese one, and even USA are now testing digital dollar.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”But we should keep in mind that these are digital currencies and not the true cryptos since they would be controlled by the government. So they are not decentralized although they contribute to the spread of digital payments.”][/vc_column][/vc_row]