The Chinese government’s national cryptocurrency project, the digital yuan, has been waved by two giant American companies as well. Accordingly, Starbucks and McDonalds will not start receiving digital yuan payments for a while.
It was claimed that Starbucks, McDonalds and Subway branches in China started testing the country’s national crypto money project. In the statement made today, it was stated that these companies are not yet at a stage where they can accept payments with digital yuan. In addition to the statement, the relevant companies are currently allowing payment transactions through platforms such as WeChat, Alipay and QuickPass.
The exact date is not clear
The officials of the project, the Chinese Central Bank and the country’s Ministry of Commerce, still haven’t announced when China’s cryptocurrency will be fully used. While the test phases of the project continue, it is estimated that there are about 3 thousand workplaces involved in the process. The full integration of the digital yuan is planned to catch up to the 2022 Winter Olympics in Beijing, if everything goes well. However, it is a matter of curiosity whether such delays in the testing phase will extend this period.
The successful implementation of the project is interpreted by many economists as the pioneering position of China in the global finance world. Ripple founder Chris Larsen, who has managed to be the center of attention with his statement in the past months, is one of the names that carefully follows the djitial yuan. The digital yuan could even dethrone the dollar, thanks to China-based payment companies like Alibaba, according to Larsen.