{"id":274041,"date":"2021-06-14T14:39:07","date_gmt":"2021-06-14T11:39:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/china-debuts-blockchain-based-digital-yuan-salary-payments-in-xiongan\/"},"modified":"2021-06-14T14:39:07","modified_gmt":"2021-06-14T11:39:07","slug":"china-debuts-blockchain-based-digital-yuan-salary-payments-in-xiongan","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/china-debuts-blockchain-based-digital-yuan-salary-payments-in-xiongan\/","title":{"rendered":"# China debuts blockchain-based digital yuan salary payments in Xiong\u2019an"},"content":{"rendered":"<p>&#8220;<strong># China debuts blockchain-based digital yuan salary payments in Xiong\u2019an <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMGExOTNmMGYtYTZlNy00ZGM1LTlkNDEtMjE3ZjFkMzljMGIyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>China is progressing with its central bank digital currency (CBDC) tests, debuting blockchain-enabled salary payments in the digital yuan.<\/p>\n<p>According to the official <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.xiongan.gov.cn\/2021-06\/12\/c_1211197959.htm\">website<\/a> of the Xiong\u2019an New Area, the People\u2019s Bank of China (PBoC) has successfully completed the nation\u2019s first on-chain wage payouts in the digital yuan.<\/p>\n<p>Announcing the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> on Saturday, Xiong\u2019an authorities said that the pilot involved guidance and support from the Shijiazhuang-based PBoC branch, the Bank of China Hebei Xiong\u2019an branch, as well as the National Development and Reform Commission.<\/p>\n<p>The new CBDC pilot used a blockchain-based payment platform to distribute salaries to\u00a0workers on spring afforestation projects in Xiong\u2019an.\u00a0Engineering subcontractors made payments directly to builders\u2019 digital wallets from a public wallet and recorded the relevant data on a blockchain.<\/p>\n<p>According to the announcement, blockchain-based salary payouts significantly simplified the wage payout process. The implementation reportedly marks the first combination of blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> with the digital yuan.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>China\u2019s blockchain project BSN to pilot global CBDC system in 2021<\/em><\/strong><\/p>\n<p>Xiong\u2019an was one of the first four regions to pilot China\u2019s CBDC in April 2020. In February, the Xiong\u2019an branch of the Agricultural Bank of China in Hebei produced the first digital yuan-designed hardware wallet. The product was developed by the Party Working Committee of the Xiong&#8217;an New Area and the PBoC\u2019s branch in Shijiazhuang.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/china-debuts-blockchain-based-digital-yuan-salary-payments-in-xiong-an\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# China debuts blockchain-based digital yuan salary payments in Xiong\u2019an &#8221; China is progressing with its central bank digital currency (CBDC) tests, debuting blockchain-enabled salary payments in the digital yuan. According to the official website of the Xiong\u2019an New Area, the People\u2019s Bank of China (PBoC) has successfully completed the nation\u2019s first on-chain wage payouts&#8230;<\/p>\n","protected":false},"author":1,"featured_media":274042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMGExOTNmMGYtYTZlNy00ZGM1LTlkNDEtMjE3ZjFkMzljMGIyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75046,75022,75159,75049,75057,4973,4965],"class_list":["post-274041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cbdc","tag-central-bank","tag-digital-currency","tag-peoples-bank-of-china","tag-yuan","tag-china","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/274041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=274041"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/274041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/274042"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=274041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=274041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=274041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}