
© Getty Images/Andrew Milligan/PA images
China is ready to showcase its state digital currency, the e-CNY, as an official payment method at the 2022 Beijing Winter Olympics
, which kicks off on Friday. According to a statement from the People's Bank of China (PBOC),
all payment services related to the Olympics have been prepared, including accounts, bank cards, mobile payments, cash, and the digital yuan.The e-CNY is China's Central Bank Digital Currency (CBDC),
which is essentially a clone of the fiat yuan in the form of a digital asset. Unlike decentralized cryptocurrencies, which are banned in China, the e-CNY is fully controlled and governed by the central bank.
The e-CNY is already accepted at the Beijing Olympics' official store in the Main Media Center (MMC), which officially began 24-hour operations on Monday.
The Olympics will be part of a gradual e-CNY rollout, which has already been test-launched in five major Chinese cities, including Shanghai and Shenzhen. On January 4, the PBOC also launched the
e-CNY wallet on the iOS and Android app stores countrywide.
By mid-January, the e-CNY wallets had nearly 261 million individual users, roughly one-fifth of the entire Chinese population, with e-CNY apps ranking as the fastest-growing by downloads in the country.
Comment: On February 2nd Reuters reported that Finland was preparing to roll back all covid restrictions by March: It's no surprise that the protestors have been labeled as neo-Nazis, anti-vaxxers, covid-deniers and fascists by the MSM.
Here are some videos of the protests: