New public transport options for China’s CBDC announced for the Asian Games debut.

China is accelerating the adoption of digital yuan payments ahead of the Asian Games, with host cities introducing various central bank digital currency (CBDC) transport options.

According to Shanghai Securities News, preparations are well underway in Hangzhou, Zhejiang Province, the host city.

The event was originally scheduled to take place in September of last year, but was postponed by a year due to the coronavirus pandemic.

The People’s Bank of China (PBoC) has updated its official digital yuan app to include a “ride code” function.

This allows smartphone users to scan their phones on the Hangzhou Metro, with the metro system automatically debiting transport fee payments from users’ e-CNY wallets.

Five Asian Games events, including baseball and volleyball, will be held in the nearby city of Shaoxing.

The Shaoxing Metro will also accept digital yuan ride code payments, according to the PBoC.

The ride code system will also be introduced on the Hangzhou-Hai Intercity Railway.

The railway is a transport network that links major cities in Zhejiang Province, such as Haining and Hangzhou.

Why Does China Want to Dazzle with its Digital Yuan at the Asian Games?

The PBoC had hoped to showcase the CBDC for the first time internationally at the 2022 Winter Olympics, which took place in Beijing in February of last year.

However, due to the COVID pandemic, its plans were scaled back, with only athletes and coaches allowed to attend the event.

Nevertheless, competitors were encouraged to use the digital currency at the event and were given free commemorative e-CNY hard wallets in an effort to boost adoption.

The Asian Games will be China’s first major international sporting event since the pandemic, and it will be the first event since the CBDC pilot reached its current advanced stage.

Last year, the city of Ningbo in Zhejiang Province announced that all 125 of its metro stations accept digital yuan-powered fee payments at ticket barriers.

Earlier this year, the PBoC made another update to its official digital yuan app.

This allowed citizens in the pilot zone to make electricity-free digital yuan payments.

The update means that people in the pilot zone can use their phone hardware for payment of transport fees and micropayments even when their phones are off.

The PBoC also stated that people can use the same innovation to make payments even when they have no network coverage.

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