Suzhou to trial digital Yuan in November
Posted On November 24, 2020
China is strengthening its position to be the first country promoting digital currency issued by the central bank. Several cities in China are testing digital currency using NFC (new field communication) technology, which is a protocol designed for communication between mobile devices in close proximity. Suzhou city of Jiangsu province is the second, following Shenzhen, approved to operate a lottery to distribute digital Yuan. However, users from Shenzhen showed no surprise upon its debut as the digital payment solution has already been prevailing across the country.