and is yet to roll it out nationwide. But the move by WeChat, which has over 1 billion users, to support the digital currency could provide it with a huge boost if people begin to pay with it.
WeChat may not be that well know to users outside of China, but inside the world's second-largest economy it is ubiquitous.because many services are wrapped into it. People can use messaging functions and make payments via WeChat Pay, but also hail taxis and order food. WeChat Pay allows users to show merchants a barcode on their phone to pay for items in store. It can also be used for purchases online. WeChat Pay has over 800 million monthly active users.limited trials in certain cities via lotteriesBut there are now signs that the PBOC is looking to expand usage of the digital yuan, despite no concrete date for a nationwide rollout. This week, the. That will enable anyone in those areas to download and sign up to use the digital currency.
In China, WeChat and Alipay, which is run by Alibaba affiliate Ant Group, dominate mobile payments; last year, Alipay also began trialing digital yuan payments. But WeChat and Alipay are also potential competitors to the digital yuan's own app.
On which chain does it run?
Can't wait to dump dollars for it. Finally freedom from the US regime.
This is why China has outlawed Bitcoin and other digital monies. It can’t monitor it’s citizens purchasing.
Cryptocurrency is going to die an awful death this year
In a DICTATORSHIP such experiments are possible and maybe practical via dictatorial enforcement but not in a TRUE DEMOCRACY