China launched their wallet e-CPY to get a head start.

The digital yuan wallet is now available on iOS and Android platforms in China. This decision has been take to get ahead of Europe with their digital Euro and the US. Basically it is a simple Proof-of-Concept to experiment their digital yuan.

BlockBeats ,a chinese local media unveiled that the wallet was available on smartphone (iOS and Android) in China.

This app, called “e-CPY”, is a digital wallet which permits the use of the digital yuan (MNBC). From now on, the chinese residents can download the app and manages their own wallets.

This application was developed by a subsidiary of the Chinese central bank. By the way, to download and use the app, the residents of China must live in these cities :

Shenzhen, Suzhou, Xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian.

China is therefore taking a considerable lead in the use of these new technologies.

To speed up the process, China deployed more than 3.000 ATM to give more liquidity of the digital yuan. The goal is to simplify the conversion into cash.

More over, China already accepts payment with digital yuan in the subway, a first good step that demonstrate the possible daily use of the digital yuan.

Since the launch of the app “e-CPY” and the digital yuan, approximately 10% of the residents already downloaded and used the app according the Bank of China.

I’m really excite to see more news about this deployment. I’m asking myself when Europe will launch too their wallets for the digital Euro.

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