In the Chinese province of Fujian, the first deal in the history of the country was recorded for the transfer of land, paid for by the digital currency of the central bank.
Fuzhou University of International Studies and Trade paid 51 million digital yuan for a piece of land through the Agricultural Bank of China. Using the CBDC, the university also paid the necessary fees and taxes.
The provincial government has promised to continue to work on expanding the use of CBDC and plans to add additional options to existing use cases in the near future.
The Chinese government is striving to spread payments in the national state digital currency throughout the country, paying special attention to the unification of norms and standards. At least 15 provinces are already participating in the state project, and the volume of digital yuan transactions exceeded $15 billion in nine months of 2022.
The success of the PRC was so impressive that the Australian Senator Andrew Bragg (Andrew Bragg) said at a meeting of the parliament of his country about the danger of the penetration of the digital yuan into the Australian economy and the threat to the financial system. The politician cited data that the People’s Bank of China (PBOC) is testing its own digital currency not only within the country, but also in the United Arab Emirates, Hong Kong and Thailand.
Source: Bits
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