News Snapshot:
The pilot trials for China’s digital yuan project led by the People’s Bank of China, its central bank, has posted some 34.5 billion yuan ($5.34 billion) worth of transactions as of June 2021. The statistics posted were referenced in a whitepaper published by the People’s Bank of China (PBOC). According to the central bank, the new digital, blockchain-based currency has been used for 70.75 million payments across 1.32 million “scenarios” which means the impact of digital currencies has reached across traditional retail settings like stores and restaurants, and beyond, to public services such as transportation, utility, and government service transactions....
