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McDonald's and Starbucks will be among the first companies to test China's digital currency

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According informs ChainNews, Testing in China to use digital currency will start soon of the Yuan, for which agreements have been made with various companies and catering chains, including McDonald’s and Starbucks.

Yesterday there was a meeting sponsored by the Department of Reform and Development of the Administrative Commission of the New District of Xiong’an where the research and development of the digital currency was discussed. The meeting was also open to various merchants.

In this specific case, the meeting focused on catering companies and retailers and the pilot project will start from Xiong’an New District, which was established only in September 2019.

The companies involved include:

  • Zhonghai SPV,
  • Jinfeng Catering,
  • Jiankun Catering,
  • Kaili Hotel,
  • Oscar Studios,
  • McDonald’s,
  • Starbucks,
  • Subway,
  • Golden Baihe,
  • Cainiao Inn,
  • UnionPay Unmanned Supermarket,
  • Jingdong Unmanned Supermarket,

This will be the first step towards the concrete use of this Chinese digital currency. It is worth remembering that the Xiong’an Lab Blockchain was released only in late March and that the director of the Xiong’an Lab, Li Jun, has set himself 2 goals:

“One is to establish a unified blockchain infrastructure platform that is compatible with different blockchains. Secondly, on this platform, we will further explore blockchain application in the new Xiong’an district, and integrate and update. ”

Many countries now aim to issue their digital currency: for example, Japan is studying a system similar to that of China, and even the United States is studying a digital dollar.

Obviously, it should not be forgotten that these are digital currencies and not real cryptocurrencies because, at be controlled by the state, in no way are they decentralized, but they do promote the spread of digital payments and, therefore, also a potential use of Bitcoin by the masses who, in this way, could more easily understand how it works.

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