Chinese Yuan Cryptocurrency to close trails with Didi

July 9, 2020


Didi a major Beijing based tech giant to give a trail to Chinese digital currency. Slowly, the pace of Digital Currencies is taking a getting faster. Major tech giants have turned an optimistic look toward the tech.

Now, focusing on the news. Yuan is the digital currency of China. Recently, news broke down, that Didi is putting Yuan under trails. Didi would be testing it as an online payment method. This seems to be a new set forth in the business world.

Earlier Yuan, just use to sit in digital wallets. Very few people would rather look it up as a potential exchange. Since the cryptocurrency is very volatile in nature. Moreover, its transition is also sometimes untraceable.

Didi is looking forward to testing it and present it before the masses. This venture is backed by the Soft Bank group. It is the major testing and researching partner in the group.

 The Role of Chinese Banks

The Chinese bank is also a major player in this business. It has come up as a global peer to facilitate this service. People Republic Bank of China says it is going to start a pilot program for cryptocurrency. This will ease the use of wallet transfer. The ultimate goal of the bank is to control the country’s cryptocurrency finance.

 The architecture

Now, let’s have a look that how is it going to work. Didi will lay out a server connecting millions of devices. Next the, the digital currency would be led free to use by masses. The head server would be in Beijing and hence, control the flow of finances.

This plan has been laid out for wider acceptance of cryptocurrency in the country. This is no doubt the best alternative of the regular old money.

Hence, We will have firm eye on how this system works .

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