{"id":22223,"date":"2023-07-12T11:32:33","date_gmt":"2023-07-12T11:32:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bank-of-china-tests-offline-payment-via-digital-yuan-linked-sim-cards\/"},"modified":"2023-07-12T11:32:33","modified_gmt":"2023-07-12T11:32:33","slug":"bank-of-china-tests-offline-payment-via-digital-yuan-linked-sim-cards","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bank-of-china-tests-offline-payment-via-digital-yuan-linked-sim-cards\/","title":{"rendered":"Bank of China Tests Offline Payment via Digital Yuan-Linked SIM Cards"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Bank of China, one of the leading state-owned banking giants, is now piloting a ground-breaking offline payment system that ties in with SIM cards. Designed expressly for the digital yuan or e-CNY \u2013 the central bank digital currency (CBDC) China is currently exploring \u2013 this system holds promise for a more flexible and robust digital currency ecosystem.<\/p>\n<p>The news was shared by the bank on Monday via a social media post, unveiling its collaboration with telecom giants China Telecom and China Unicom. The trial was slated to start the next day, marking a significant step forward in China\u2019s digital currency trajectory.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins in Aztec Magic Deluxe <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2>The Nitty-Gritty of the SIM Card-Linked Payment<\/h2>\n<p>This innovative payment solution aims to merge the bank\u2019s e-CNY app with unique \u201csuper SIM cards\u201d equipped with near-field communication capabilities. These cards will empower users to perform payments simply by bringing their mobile phones in proximity to point of sale terminals. Interestingly, the system works without requiring the phone to be switched on, enabling offline transactions.<\/p>\n<p>The bank clarified, though, that the SIM card payment functions would initially be available only on certain Android phones in selected testing zones within China. This move comes after the <a href=\"https:\/\/igaming.org\/crypto\/chinese-e-cny-wallet-now-available-in-android-and-apple-app-stores\/\">January 2022 trial launch<\/a> of an e-CNY app by the People\u2019s Bank of China (PBOC), which signaled the country\u2019s central bank\u2019s intent to explore and expand in the digital currency realm.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/bank-of-china-tests-offline-payment-via-digital-yuan-linked-sim-cards\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Bank of China, one of the leading state-owned banking giants, is now piloting a ground-breaking offline payment system that ties in with SIM cards. Designed expressly for the digital yuan or e-CNY \u2013 the central bank digital currency (CBDC) China is currently exploring \u2013 this system [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":22224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22223"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22223"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22224"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}