Join the larget crypto conference of 2022 in Bitcoin
$ 39,046

Chinese Central Bank Seeks to introduce QR code mechanisms for CBDC

Chinese Central Bank Seeks to introduce QR code mechanisms for CBDC 8

The People Bank of China wants standardization of Chinese CBDCs via integration with traditional payment systems.

China is a tech adoptive country, which adopted blockchain technology in the early stage over other countries via the introduction of the Chinese Central Bank Digital Currency (CBDCs), or say Digital Yuan. In 2021, China banned the whole crypto industry from the country and introduced Digital Yuan. Few experts claimed that the country banned crypto to reduce the competition for Chinese CBDC.

Last week, the deputy governor of the Central Bank of China, People’s Bank of China, Fan Yifei, said that there is a need to create a standardized ecosystem for Digital Yuan (or say e-CNY). 

Fan emphasized the need to introduce better features to promote & push the adoption of the National Digital Currency Digital Yuan. For the same, the Deputy governor suggested introducing QR code mechanisms, Bluetooth, and near-field communications to allow consumers to scan a QR code for various kinds of payment access.

According to reports, the statement from the PBoC deputy governor comes because the majority of the Chinese population is showing a significant inclination toward the use of QR code mechanism-based payment systems, which are powered by Ant Group’s Alipay and Tencent’s WeChat Pay.

In August, The director-general of the PBoC, Mu Changchun, suggested the developers to develop multiple smart contracts for e-CNY because it has been confirmed during the testing of digital Yuan that it has a better ability to perform better use cases in different types of things. 

At present, a survey confirmed, that around 9 out of 10 central Banks are either studying or developing CBDC, to bring modernization to the traditional financial system. This increasing interest of Central Banks in CBDC is creating peer pressure on the US Federal Reserve to work on the digital form of the Dollar. 

Read also: Norwegian central bank introduces its CBDC prototype on Ethereum network

Chinese Central Bank Seeks to introduce QR code mechanisms for CBDC






Ads by Cryptonews24

OKX - Moon Trade

Moon Grid trading bot
OKX’s new Moon Grid bot automatically buys low and
sells high within a wide price range using artificial intelligence based on market backtesting.
Quick to set up with smart entry and exit points!

How does it work?

  • Select Trade in the main menu, then select Trading bot.
  • Select a spot trading pair from the Trading bot menu.
  • Select Moon Grid from the listed strategies.
  • Enter the amount you want the bot to trade and click Create.
  • Your bot will then be live.
  • To view and manage your Moon Grid bot, select Bots at the bottom of the trading dashboard.


Trade with Moon Grid now


Ads by Cryptonews24




Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin. provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice. recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.


How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

--------------------------Ads by Cryptonews24--------------------------------------
CocaCola Investing Platform

✅Brand new company platform launched 17/09/2022🔥💯


👉🏼Coca-Cola 👈

Don't miss Coca-Cola if you want to generate passive income.

It is a brand new company with stable and moderate income that will help investors earn money in the long run.

Say no!! on sites with high commissions, they only last a few days.

Coca-Cola is a legitimate company and supplies are standard.

$5 sign up bonus

-Minimum deposit $20
-Minimum withdrawal $10

Withdrawal time 0~10 minutes💯 ✅

Get 7% of your deposit everyday🔥
-Deposit 20, Get $1.5 Daily ✅
-Deposit 30, Get $2.1 Daily ✅
-Deposit 50, Get $3.5 Daily ✅
-Deposit 100, Get $7 Daily ✅
-Deposit 200, Get 14 Daily ✅

Get 10% of your first deposit and 10% on invite deposits 😱

Reward Invitations🏅
-30 valid members, get $100 reward ✅
-60 valid members, Get $150 reward ✅
-100 valid members, Get $350 reward ✅
Note: Valid member charges $30 and up

Deposit Reward🏅
Get 10%, 2% and 1% of Lv1, Lv2 and Lv3 group deposits.

A lot of activities will be organized in the main group to help hardworking members make a lot of money 💰

Registration link

This is a long term project!! Do not miss it!!! 💎 💎 💎 💎 💎


Cryptonews24 Channel Chat