China's Digital Yuan Wallet App Now in iOS and Android App Stores

kanayaTabitha

sr. member

Activity: 980

Merit: 252

Quote from: timerland on January 04, 2022, 10:56:50 PM

I personally think that it's probably going to be a flop.

Chinese citizens are going to be more comfortable using Alipay and Wechat pay which are the dominant players right now, and foreigners are certainly not going to be using this service any time soon.

CBDCs are the future, but short term wise I think adoption will be difficult.

It's gonna be depends on the top government of their country because china is authoritarian so what the governmnet ask their china's citizen to use and it will be used by the citizens because the government are the ruler of the country.
And yes i think so, they are not want implemented the wallet system yet since the digital fiat currency like alipay is realtively new used by most people on the country.

jossiel

hero member

Activity: 3220

Merit: 636

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Is this specific only for the CBDC that they've developed? They already have two of the biggest wallet apps that they're using.

But if this is also going to cover what the other two have, they have at least now 3 choices which is still fine. Well, only citizens of them can enjoy this and we'll see how they're going to end up with its result.

OcTradism

hero member

Activity: 1722

Merit: 801

Use it and get tracked by Chinese governments. I don't like it if I am Chinese.

CBDCs are products from governments which try to use blockchain technology which was pioneered by Bitcoin 13 years ago. I know the prehistory of Bitcoin is longer than 13 years. And now they try to claim that their CBDCs are better than Bitcoin and cryptocurrencies. hell no, it is not true.

Usually I don't install so many applications on my devices if I can use it on web browsers.

timerland

hero member

Activity: 1526

Merit: 596

I personally think that it's probably going to be a flop.

Chinese citizens are going to be more comfortable using Alipay and Wechat pay which are the dominant players right now, and foreigners are certainly not going to be using this service any time soon.

CBDCs are the future, but short term wise I think adoption will be difficult.

mynonce

full member

Activity: 233

Merit: 253

China's Digital Yuan Wallet App Now in iOS and Android App Stores
https://news.bitcoin.com/chinas-digital-yuan-wallet-app-ios-android-app-stores/

China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country, a pilot version of its central bank digital currency (CBDC) wallet application.

Developed by the PBOC Digital Currency Research Institute, the wallet app for e-CNY, also known as Digital Currency Electronic Payment (DCEP), is now available for download in the iOS and Android app stores in China. Previously, the wallet app was only downloadable via private links. The app is free to use.

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