CBDC Payments in China Now Undergoing Offline Trials, Integrating e-CNY Payments with SIM Cards
China, despite its strict stance on cryptocurrency, is a prime example of how large economies can experiment with Central Bank Digital Currencies (CBDCs) and experience rapid growth. The Bank of China is currently testing an innovative offline payment system that integrates with SIM cards. CBDCs are blockchain representations of fiat currencies that ensure transparent and …