The availability of the trial version is still unclear
The digital wallet pilot's latest debut comes as the whole world eyes for the official launch of the country's own CBDC. By beginning work on its national digital currency in 2014, China was one of the first countries to do so.As per the tweet by local digital media firm BlockBeats, anyone in the country can access and download the trial version to get an idea about its functions. In contrary, Reuters reported that the app claims to be in an experimental research and development phase and is only available to a limited number of people via authorized e-CNY service providers.
A screenshot of the claimed e-CNY wallet, which was designated for internal usage by banks, was posted online earlier in 2021. The wallet's current layout appears to be very different from the previous disclosure.
The development phase was finished by the end of 2019; however, the government has yet to declare an official launch. The digital yuan has been deployed in a variety of industries and platforms in the last two years of mass trials.
China might launch digital yuan this year
The rumors of a possible official digital yuan debut have been circulating for years, but each year the government increases the CBDC's area of testing to include online and insurance payments. Many European and Asian countries are planning to begin CBDC trials in 2022, but China is still years ahead when it comes to the development and testing phase.China's e-CNY could be launched in 2022, and the government's trial version of its digital wallet is one sign that the government may decide for a public rollout in the near future. However, because e-CNY is already being used in millions under the testing phase, the formal launch is being considered as an extension of the testing by many.
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