China Ministry of Commerce set to begin Digital currency in some major cities in China.
As a businessman or woman who goes to China to transact, this would be a major concern about China’s decision about the new cryptocurrency.
Going to McDonald’s, Hebei province to buy some snacks are you are required to pay in digital currency, that’s one of the problems you would face.
In a statement signed on Friday by the Ministry, said that the cities included in this Digital currency program will include Beijing-Tianjin-Hebei, Eastern region of Yangtze River Delta, the “Greater Bay Area” in the Pearl River Delta and other major cities in Midwestern China.
Throughout April, China has been trying to come up with their own cryptocurrency in the country in Xiong’an area in Southwest region of Beijing, Hebei and state-backed local Security times said that the trial is with 19 companies including other two American companies; McDonald’s and the Subway.
Earlier August one of the country’s local news reported that most of the major commercial banks have begun internal testing for the digital wallet application as they plan to official lunch the Digital wallet.
As a result of this Development, China would still continue to use Its paper notes, But the digital currency is the future the world is evolving around.