The digital yuan app is the primary means through which users can use e-CNY. It is accessed through the digital yuan app 数字人民币 shuzi renminbi. The digital wallet, called the 数字钱包 shuzi qianbao in Chinese, is an online wallet through which you can keep track of and store e-CNY. How does the digital yuan app and digital wallet work? Let’s say you happen to be singing songs at 2 am in downtown Shanghai.Ĭhinese bank account in order to top up the digital wallet with these two options. This continues on to any interaction with the smart world of China. If you are buying a potato at the side of the road in a very remote area in China, you would open your phone, scan the potato carts QR code, accept the amount and off you go. If you use any messaging app, while replying to your friend, on the right top corner of your screen you can scan or be scanned to quickly pay for items, anywhere. The most commonly used would be WeChat, as it doubles as the most used messaging app in China. In China, there are two methods of storing/saving your hard-earned finances, WeChat and Alipay. If you have read any articles about China in the last few years, you would have heard that cash is dead or dying. “The shocking piece is that China is exporting that kind of censorship to other parts of the world.”Īccording to the Citizen Lab, an Internet watchdog group at the University of Toronto, WeChat’s parent company Tencent created an extraordinarily advanced censorship algorithm to automatically identify combinations of keywords in messages and online articles that it then blocks. “It isn’t shocking that China has that kind of censorship,” he says. He declined to share his full name because he fears his criticism could draw retaliation against himself or his family by the authorities in China, where he travels often and where most of his family lives.
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