This is Digital Viral Chinese Financial Appearance on Social Media

Money / 29 April, 2020

This is Digital Viral Chinese Financial Appearance on Social Media

The Covid-19 corona virus outbreak does not seem to limit Chinese desires for working on the uniform digital money of Bitcoin. Some of it today is spread on social devices that are legitimate digital currency money screens in China.

Reportedly scattered screen paintings spread on this social device reportedly started from the type of mobile application trials that were raised by one of the largest state-owned banks in China is the Agricultural Bank of China. The information is that the bank is trying to do it in a small way to experiment with virtual money.

China was the first country to study the inauguration of its own digital money currency, which was to be tightly controlled by the Bank of China from working on a decentralized system that underlies cryptocurrency like bitcoin and does not require administration from a central sovereign.

Digital money testing has actually been running for several months in the banks belonging to the Chinese authorities, as quoted from the South China Morning Post,

“It should be a secret at this step,” said the base who did not want to be told by the SCMP name. “This leak offers initial thoughts about what sort of Chinese digital money could be for ordinary citizens.”

The second base, which is friendly to the testing program at the banks of the authorities, said the game prey was authentic.

The picture shows the digital currency application made by the Chinese government has several basic functions similar to other online payment platforms such as Alibaba’s Alipay and Tencent’s WeChat Pay, which allows users to make and receive payments, and transfer money.

While China is busy developing its own digital currency. PBoC is also known to crack down on other digital currency trading and prohibit banks from accepting cryptocurrency, which is seen as a risk of financial stability.