Big tech unveils digital yuan projects, Chia frenzy: Blockheads

A flurry of digital yuan news came from the Digital China Summit in Fuzhou, as tech giants showed off what they have been working on. Standouts included JD. com's e-CNY payroll, Ant Group's digital RMB software announcement, and the Industrial and Commercial Bank's walking cane equipped with digital yuan compatibility. Big Tech's digital yuan projects Tech giants showed off their work on the e-CNY this week during the Digital China Summit: E-commerce giant JD. com said it has started paying some of its staff using the digital currency. Ant signed a strategic cooperation agreement with the People's Bank of China Digital Currency Research Institute to develop a software platform for the digital RMB using its database technology, Ocean Base, and its mobile software development platform, mPaas. Ant has been working with the PBOC on the digital currency since 2017. Huawei showed off e-CNY compatible phones at the Digital China Summit in Fuzhou. The Industrial and Commercial Bank of China revealed 30 new payment tools using the digital currency including an e-CNY ATM where cash can be exchanged for its digital twin and an Asian Games-themed hardware wallet. The state-owned bank is also working on inclusive technology, such as a digital RMB-enabled walking cane and a "Large-screen voice broadcast wallet" for the elderly, as well as a digital RMB-compatible "Agricultural assistant machine."