According to a report from 8BTC, the Chinese central bank is testing the digital version of the yuan (DCEP) in the field of credit card payments, which will potentially be able to provide a rich stream of new users.
In connection with this, China has expanded its experimental free trade zone, adding three more regions to the Zhejiang province.
The free trade zones will be part of the blockchain trading finance system based on the DLT trading platform of the Central Bank of China (CBC).
In addition, three major test innovation projects were announced: a national pilot project on digital credit ratings for small and micro-enterprises, oversight of innovations in the sphere of digital currencies, and financial technologies.
Furthermore, the Research Institute of Digital Currency to the CBC has started cooperating with the company JD Digits, which engages in internet trade, for work on an advanced DLT-platform that is based around the digital yuan and pilot projects on online payments with the use of the DC-based platform.
Pilot projects suggest digital pay-outs for refilling transport cards and will start from the low population areas, where small payments are used.
As reported by China Banking News, a week ago, the National Central Bank has informed that it had completed all the necessary preparations for the release of its own digital currency, which is also known to be DCEP or CBDC. An article about this was published on September 19.
