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Do you know the Beijing Olympics will use digital currency?

Beijing Olympics
Beijing Olympics

China’s state digital currency will be used at next year’s Beijing Winter Olympics, said Li Bo, the country’s central bank vice-governor.

At an annual meeting on Sunday, he added, “Suddenly, digital yuan will be introduced experimentally in more cities.”

Last year, China introduced experimental digital currency in several cities, including Suzhou, Shenzhen, Chengdu, and Jiangxi. There was a response.

“In the experimental launch, we realized that the current distribution system is compatible with the digital yuan or e-CNY,” Lee said.

China will further improve the e-CNY ecosystem. Its security and reliability will be enhanced.

At the same time, we are developing a legislative and regulatory system. “

“At the Beijing Winter Olympic Games next year, Chinese citizens and foreign guests will be able to use the digital currency,” he said. 

Yes. The internationalization of the yuan is a normal process. 

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We don’t want to take the place of the dollar or any other currency, but rather create the option to use any currency in the market.

Source: Reuters.

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