Beijing, July 16 (Xinhua): China Central Bank on Friday released a white paper about the progress of the country's digital fiat currency or e-CNY, which summarized The background, roadmap technology, as well as field objectives.

Following some data and figures related to E-CNY.

- E-CNY is the digital version of the FIAT currency issued by the Popular Bank of China (PBOC) and operated by authorized operators. It is a hybrid payment instrument based on value, based on quasi-account and based on account, with legal tender state and account link next to coupled.

- according to a survey conducted by PBOC in 2019, the number and value of transactions through mobile payment represented 66 percent and the 59 percent of the total.

- From 2014 to 2016, the PBOC established the FIAT Digital Forex Research Group and initiated research in the field.

- In 2016, the PBOC built the prototype of the First Generation Fiat Concept, established the Institute of Digital Currency (DCI) and proposed the Top-level designs and the fundamental features of E-CNY.

- The PBOC started the R & D E-CNY project at the end of 2017. Large commercial banks, telecommunications operators and Internet companies classifying high content Assets and market share and strengths in technology D development was selected to participate in the project.

- The PBOC has launched the E-CNY pilots in Shenzhen, Suzhou, Xiong'an and Chengdu since the end of 2019. The pilot executions were designed to test the reliability of the theories, the stability of the systems, the usability of the functions, the convenience of the processes, the applicability of the scenarios and the controllability of the risks.

- Since November 2020, Shanghai, Hainan, Changsha, Xi'an, Qingdao and Dalian joined the pilot.

- Up to June 30, 2021, E-CNY had been applied to more than 1.32 million scenarios, covering the payment of public services, the catering service , transport, purchases and government services.

- More than 20.87, millions of personal wallets had been opened and more than 3.51 million corporate wallets, with a volume of transactions totaling 70.75 million and the transaction value They approached 34.5 billion yuan (around 5.33 billion dollars).

- The PBOC will continue to progress prudently the Pilot E-CNY R & D project in line with the 14th five-year plan of China, without presets schedules for the final launch. Enditem

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Beijing,  Chengdu,  Shenzhen,  Changsh, 

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