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China's Central Bank Works with Ant, Tencent to Develop Digital Currency - New Delhi Times


May 3, 2021
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China’s central bank has signed a strategic cooperation agreement with Ant Group, the fintech affiliate of Alibaba Group, to help build a technical platform for its sovereign digital currency, state media reported.
China has been developing its electronic yuan, or e-CNY, since 2014 with an aim to replace some of the cash in circulation. In lieu of a timetable for its official launch, the digital cash will first be used for retail payments domestically before it is used abroad, Chinese authorities have said.
The two sides will jointly promote the development of the e-CNY, based on Ant’s database, Ocean Base, and its mobile development platform, mPaaS, according to the state tabloid Global Times. ....

T Ai Pei , Hong Kong , Francis Lun , Tencent Wechat , Anne Stevenson Yang , Jerry Lin , Ant Group , Society For Worldwide Interbank Financial Telecommunication , J Capital Research , Financial Research Institute , Ali Baba Group , Taiwan Academy Of Banking , Geo Securities Ltd , Ocean Base , Communist Party , Geo Securities , Financial Times , Taiwan Academy , New York Based Anne Stevenson Yang , Worldwide Interbank Financial Telecommunication , Wechat Pay , டி ஐ பேய் , ஹாங் காங் , பிரான்சிஸ் லூந் , அன்னே ஸ்டீவன்சன் யாங் , ஜெர்ரி லின் ,

China To Develop Digital Yuan Platform With Alibaba's Ant


The Digital Yuan, also know as Digital Renminbi or e-CNY, the development will be “jointly promote” by the partners and will be based on Alibaba’s affiliate. The Global Times revealed that banking institutions have worked with Ant and the multinational Chinese conglomerate Tencent for over 3 years. Together they have co-develop the Digital Yuan.
Ant and Tencent have gone through a lot of scrutinies by China’s government. However, this has not prevented them to work on the project. VOA claims that the People’s Bank of China requires assistance to build the CBDC’s infrastructure and its distribution channels. China expects the e-CNY to be used in local retail payments and later to be adopted by foreign countries. ....

Francis Lun , George Orwell , Ant Group , People Bank , Ali Baba Group , Digital Yuan , Digital Renminbi , Global Times , Geo Securities , Communist Party , Dovey Wan , Primitive Crypto , Electronic Payment , பிரான்சிஸ் லூந் , ஜார்ஜ் ஆர்வெல் , எறும்பு குழு , மக்கள் வங்கி , அலி பாபா குழு , டிஜிட்டல் யுவான் , உலகளாவிய முறை , புவி பத்திரங்கள் , கம்யூனிஸ்ட் கட்சி , டொவே வ்யாந் , ப்ரிமிடிவ் கிரிப்டோ , மின்னணு கட்டணம் ,

China's Central Bank Works with Ant, Tencent to Develop Digital Currency


May 03, 2021 08:16
China s central bank has signed a strategic cooperation agreement with Ant Group, the fintech affiliate of Alibaba Group, to help build a technical platform for its sovereign digital currency, state media reported.
China has been developing its electronic yuan, or e-CNY, since 2014 with an aim to replace some of the cash in circulation. In lieu of a timetable for its official launch, the digital cash will first be used for retail payments domestically before it is used abroad, Chinese authorities have said.
The two sides will jointly promote the development of the e-CNY, based on Ant s database, Ocean Base, and its mobile development platform, mPaaS, according to the state tabloid Global Times. ....

T Ai Pei , Hong Kong , Francis Lun , Tencent Wechat , Anne Stevenson Yang , Jerry Lin , Society For Worldwide Interbank Financial Telecommunication , J Capital Research , Financial Research Institute , Taiwan Academy Of Banking , Geo Securities Ltd , Communist Party , Geo Securities , Financial Times , Taiwan Academy , New York Based Anne Stevenson Yang , Worldwide Interbank Financial Telecommunication , Wechat Pay , டி ஐ பேய் , ஹாங் காங் , பிரான்சிஸ் லூந் , அன்னே ஸ்டீவன்சன் யாங் , ஜெர்ரி லின் , ஜு மூலதனம் ஆராய்ச்சி , நிதி ஆராய்ச்சி நிறுவனம் , டைவாந் கலைக்கழகம் ஆஃப் வங்கி ,