A portion of the physical Yuan of China is digitized and was launched in 2020 during its pilot program. The e-CNY is the China government’s initiative in venturing into the digital currency market. While the People’s Bank of China has claimed that it is not intending to use e-CNY to compete with Alipay or WeChat Pay, the marketing of the currency has proven otherwise. This will set in motion new movements in the digital payment market and it is aimed at regulating the anti-competition practices. The development of a sovereign digital currency has been in works involving the country’s major currency. This is because some of the biggest banks have been persuading its customers to start using the digital wallet part of the pilot program that uses the digital yuan. Expectedly, WeChat Pay and Alipay will both rake in transactions amounting to billions but 2021 could well be the year that will change all that. In China, has been set for a shopping festival and that is when digital payments will go into a frenzy. With the announcement and launch of the digital yuan, this landscape is set to change and it could be very fast. For any questions, please reach out to our editorial department.For the longest time, AliPay and WeChat Pay have been dominating the electronic transaction market in China. However, we are not responsible for the accuracy of the information. (China Money Network’s articles are curated and translated from credible Chinese media organizations with established brands, experienced editorial teams, and trustworthy journalism practices. After completion, it will become the world’s largest and most efficient advanced compressed air energy storage power station, which can promote the industrialization process of China’s compressed air energy storage technology, and effectively support energy reform and the construction of new power system. It was learned from the Institute of Engineering Thermophysics of CAS that recently, the first set of 100MW advanced compressed air energy storage project in Zhangjiakou, Hebei Province, which provided technology by the Institute, was successfully operated and smoothly connected to the grid, marking that the project officially entered the stage of system live commissioning. The company will also continue to promote the integration of independent software products with next-generation information technologies, such as big data, cloud computing, IoT, Mobile Internet, and AI, increase research and development efforts, promote the company’s continuous scientific and technological innovation, and meet the digital needs of customers in the power, transportation, water conservancy and other industries.įirst 100MW compressed air storage project in Zhangjiakou – The world’s largest The company also released a new close-range ultra-wide-angle lidar QT128.įorever Technology: Existing technologies will be designed in metaverseįorever Technology said on the interactive platform that the company has verified that it can assemble or design power-related three-dimensional scenes in a VR virtual environment, and the existing technology can be designed in the metaverse in the future. Hesai Technology has unveiled for the first time at CES 2022, a global consumer electronics event, the automotive-grade semi-solid-state lidar AT128, which has been fixed-point and equipped with self-developed chips. Hesai Technology unveils automotive-grade lidar at CES 2022 To this end, Tencent will further explore the innovative payment experience and help the smart Winter Olympics to be held smoothly. Beijing Winter Olympic Village is scheduled to open on January 27, and the e-CNY will be piloted in the relevant scenes of the Beijing Winter Olympics. After the early multi-stage controllable pilot, Tencent began to provide users with e-CNY services. Recently, e-CNY APP was upgraded, and the e-CNY Wallet on WeBank(WeChat Pay) was launched.
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