China to Demonstrate the Digital Yuan at the Summer World University Games
In July, the CBDC will be used during the Summer Globe University Games in Chengdu, giving student-athletes from all around the globe an opportunity to utilize China’s digital yuan.
Athletes, rowers, swimmers, gymnasts, and tennis players from all over the globe gather every two years to participate in the Summer Globe University Games.
Public digital yuan wallets, to be used by the event’s Executive Committee, were said to have been “successfully created” by the event’s organisers.
Additionally, the event planners stated that they had “achieved initial results” in applying the CBDC to “scenarios” related to the event, such as food service, medical attention, and transportation.
The ICBC was among the first Chinese financial institutions to introduce a digital yuan wallet. In contrast to the Beijing Winter Olympics, it is unclear whether or not competitors would be given digital yuan hard wallets.
Visa cards and the digital yuan were the only forms of payment accepted at shops in the Olympic Village. Officials from China’s banking industry are anticipating a larger-scale performance at the next September Asian Games.
Starting on September 23, Hangzhou will host the Asia Games, an event for which a wide variety of digital yuan promotions will be ready for overseas fans. In and around Hangzhou, public transport systems have been modernised to take digital yuan payments.