China CBDC Institute: Chinese Cryptocurrency Offline Wallet Ready for Testing

02.11.2020 / Payment system news

Representatives of the China CBDC Institute said that currently the offline wallet for the national digital currency is ready for testing.

“The offline wallet has been developed and has a convenient interface for making transactions,” said Changchun Mu, head of the China CBDC Institute, stressing that the pilot tests of China’s digital currency have shown a positive result in the tests initiated by the Shenzhen Municipal Government. After the successful completion of the first phase, the developers decided to include more extensive payment contracts and a unique form of authentication in the pilot project.