SHANGHAI :
PBOC Tests DC/EP Without Handset for First Time
Liao Shumin
DATE:  Jan 06 2021
/ SOURCE:  Yicai
PBOC Tests DC/EP Without Handset for First Time PBOC Tests DC/EP Without Handset for First Time

(Yicai Global) Jan. 6 -- The People's Bank of China has tested its digital currency without using a cell phone for the first time.

Shanghai Tongren Hospital, affiliated with Shanghai Jiao Tong University School of Medicine, ran the test by using a "hardware wallet," a device that looks like a bank card with a screen that shows its balance, Changning district's administration said on its WeChat account yesterday. The device is developed by Postal Savings Bank of China.

Before this, the central bank has been testing the Digital Currency Electronic Payment system via QR codes and Near Field Communication technology in Shenzhen and Suzhou. The DC/EP is designed to be a digital legal tender operated by designated institutions and exchanged with the public.

The PBOC is currently testing its digital currency in cities including Beijing, Xiong’an, and Chengdu.

Editor: Emmi Laine

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Keywords:   Digital Currency,Shanghai,DC/EP,PBOC