March 28, 2024

Chinese bank begins testing mobile application for national cryptocurrency

The Chinese bank Agricultural Bank of China (ABC), one of the participants in the pilot program of the Central Bank of China, has begun testingnational digital currency payment system interface.

Screenshots of a mobile application developedABC originally appeared on WeChat on Tuesday. On them you can see the interface of the mobile application allowing users to interact with the Chinese state digital currency.

</p>

The application has been available for some timedownloads to iOS and Android mobile devices, but now this address produces a 404 error. However, the information portal CoinDesk managed to review the application and note a number of functions that are already available.

First of all, it is an opportunity to receive andsend payments, payment by QR code, as well as transaction tracking and interaction with other users. In addition, the application has the ability to register, but so far it is available only to some users from the cities of Xunan, Suzhou, Chengdu, Shenzhen.

Yesterday it also became known that China has created a technical committee of 15 organizations to develop national standards for blockchain and distributed ledger technology (DLT).

</p></p>