China Introduces Payment into National Cryptocurrency


Chinese officials will be the first to receive payment in cryptocurrency

China introduces payment into national cryptocurrency: who will be the first to receive payment. Photo: BitExpert

In May, employees of the municipality of the Chinese city of Suzhou will receive 50% of their payments to the state cryptocurrency (DCEC). At the same time, four state-owned banks will issue cryptocurrencies: Agricultural Bank of China (ABC), Industrial and Commercial Bank of China, Bank of China and China Construction Bank.

In an official document, all government institutions in Suzhou are invited to sign contracts with these banks to issue Chinese digital currency, as the system is to be launched in May. All officers will be asked to download and install digital wallets developed by banks to receive their payments.

It is worth noting that the Alipay payment system has confirmed its participation in the development and issue of the state digital currency, including the mechanism for issuing and circulating altcoins.

In addition, the second day it was reported that ABC has begun testing a mobile application for national cryptocurrency. The presented version of the program allows you to pay by QR code, send and receive payments, exchange digital money, manage your wallet, track transactions.

Summary PAYSPACE magazine

Remember that being a happy owner of cryptocurrency, you can easily get street food, coffee, sushi, or pizza in Australia, the United States, Great Britain, Canada, Malaysia, Japan or even Kenya. In the capital of Estonia, bitcoin confiscated coffee houses, and in Rome, the Staccoleco confectionery sold sweets in exchange for digital money.

Kyiv is slightly behind its western counterparts, but progress is evident. Interestingly, the pioneers in the capital do not have fast food giants. Mostly family and theme restaurants.

Read: LSD or Pizza: what they actually buy for cryptocurrency and why everyone considers it illegal.

By content: China star market


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