According to local media, Xi'an has become the first city in China where residents can pay with digital yuan for taxi fares.
Municipal taxis now feature QR codes, which passengers can scan to pay for fares with digital national currency.
Xi'an is among the second group of pilot cities for China's CBDC. In August, Xi'an authorities announced plans to adopt the digital yuan for expressway tolls. According to local media, e-currency can already be used to pay electricity bills, refuel cars and pay for medicines.
After nearly seven years of research into digital currencies, China is finally accelerating the implementation of its e-currency. Although there is no official launch date yet, 139 million people have already used the digital yuan app.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Estonia plans to raise funds to launch a program to integrate cryptocurrency into the state economy
To date, Estonia has entered into a partnership agreement with Chronobank, a company specializing in recruiting and payments using Blockchain technology. Chronobank is acting as an advisor to the government-backed token crowdfunding program.
New York State Assembly Member Proposes Considering Issuing State Cryptocurrency
New York State Assemblyman Clyde Wanel, who has previously filed several bills related to blockchain technology, filed a new bill on February 2 that calls for consideration of a state-owned cryptocurrency.
