Since the outbreak of COVID-19 the digital Yuan developments was postponed to help the government to fight against it but seems that the short cases that are being registered in the country opened a window to the PbOC (People's Bank of China) to continue with their plans to issues their Central bank Digital Currency also called DCEP. The various news channels dedicated to crypto and not only are noticing the new arrangements taken to ensure this debut could soon be a reality.
The China Star Market an local news outlet said that one of the cities that will carry the test of the national Chinese digital currency, Suzhou, the local employees in May will be granted their 50% subsidy in the Blockchain based asset from the China Central Bank! The national digital Chinese currency will be formally issued by (4) state owned banks one of them, the Agricultural Bank, released an app wallet that will be used to test it and ensure all testers apply to it using this financial institutions!
Accordingly to the same source this financial institutions will be the ones responsable to issue and distribute the DCEP making all preparation to make it a reality next Month of May. The testers will have to download the App offered by the Banks to be able to claim their subsidies from transportation.
China will be a pioneer in Blockchain national debut carrying all support to take Blockchain to the masses and making use of it in national scale, hope to see many other countries to do the same.
*Republished Article Original found at Uptrennd Platform From My Authorship.