Digital Yuan

Central bank digital currency (CBDC) initiatives around the world are ramping up. The Bank of Russia has reportedly named 12 banks to develop a prototype of the digital ruble by December. Meanwhile, the CBDC trials have reached Beijing’s subways as passengers can now use the digital yuan to pay their fares.

Jun 30, 2021

China’s Xiong’an New Area, a district located approximately 60 miles southwest of Beijing and a testing ground for new economic ideas, will start allowing digital yuan for wage payments. “The Hash” team unpacks China’s ongoing pilot programs around the digital yuan and their possible impact on the global central bank digital currencies (CBDCs) markets.

Jun 15, 2021

During a 1:1 session at Consensus 2021, PayPal's VP & GM, Blockchain, Crypto and Digital Currencies, Jose Fernandez da Ponte, believes central banks know what they are doing on the technology side but doesn't think they have an appetite to own the technology stack and handle millions of consumer accounts.

May 26, 2021

China’s Chutian Dragon, a smarts cards manufacturer, is reportedly making a card-based wallet for the digital yuan with fingerprint identification technology. “The Hash” panel weighs in on the global direction of central bank digital currencies (CBDCs), surveillance, and tracking.

May 11, 2021

While Bitcoin Cash surges, we talked to a Japanese coffee shop owner who just started accepting BCH as payment yesterday. Buying bubble tea with a digital yuan China’s DCEP pilot program continues to expand. Police in Korea are told no to crypto, but who will police the police?

May 7, 2021

Jack Ma's Ant Group confirmed that it has been working on the digital yuan project with China's central bank since at least last year, providing the People's Bank of China access to its database technology and payment tools. Nik De breaks it down. Plus, the House passes the first major crypto-specific legislation aimed at breaking down barriers to innovation.

Apr 27, 2021

Internet giant Ant Group, which owns mobile payment leader Alipay, says it will offer technical support to help China roll out its digital currency. JD.com, a leader in China’s e-commerce space, reveals that it’s started paying some employees with the DCEP.

Apr 26, 2021

Dogecoin prices surged during Asia trading hours, thanks to celebrity hype from Tesla CEO Elon Musk and fellow billionaire Mark Cuban.

Apr 16, 2021

Chinese billionaire Jack Ma's Ant Group will become a financial holding company subject to China's central bank's oversight following a recent antitrust case in China. "The Hash" panel discusses the global significance of these developments and reads between the lines about China's crackdown on fintech firms, Alipay and the digital yuan.

Apr 12, 2021

Bank of International Settlements General Manager Agustin Carstens pushed back against claims that China's digital yuan would give the country a "first mover advantage" in the world of CBDCs. Though Carstens didn't directly name China, his speech challenged "overblown" rhetoric that any one CBDC would become the world's reserve currency based on "digital nature alone." Nik De breaks it down.

Apr 1, 2021