Although pilot tests for the digital Yuan have been launched and are happening progressively across four large Chinese cities, the governor of the Chinese Central Bank in a recent report by Xinhua news claimed no official date had been set for the launch of the long-awaited project.
Central banks from 46 countries worldwide are exploring digital currency, however, only a few of them are actually going to launch their own coins. And most of them are not going to base their stablecoins on a blockchain.
Digital Currency Electronic Payment (DCEP) issued by People’s Bank of China (PBoC) will not be mass-produced and will not be issued in large quantities in the short term, China Central Television reports.
Talks about Central Bank Digital Currencies (CBDC) have been ongoing for a long time, however, we are seeing attempts at practical implementation only now as the coronavirus pandemic rages across the world.
The central bank of Sweden has entered the world's first test of the issuance of their own central bank digital currency (CBDC). This means that the country has become part of those governments (over 15 countries) trying to issue their own CBDC.