The Chinese city of Qingdao is launching a pilot version of an NFC application to pay in digital yuan for public transport. The functionality of the app supports offline payments.
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China launches a pilot version of the e-CNY metro fare app
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Qingdao announced the start of testing digital yuan (e-CNY) payments for metro services. The project was initiated by the Digital Currency Research Institute of the People’s Central Bank of China (NBK), with the support of the Qingdao Branch of the central bank and the Qingdao City Transport Administration.<br
The project is co-financed by the NBK, China Telecom, China Unicom, Qingdao Metro Group and Digital Finance Public Service.
The pilot project will use a specially designed application that uses Near Field Communication (NFC) hardware technology. This will allow customers to pay with digital yuan using their mobile devices, even if their phones are turned off or not connected to mobile networks.
In order to use mobile devices to pay fares offline, users are advised to add their personal China Unicom or China Telecom SIM card details to their digital yuan wallets in advance.
Earlier, China’s Ministry of Industry and Information Technology (MIIT) unveiled a national standard for blockchain technology that should help develop the industry in the country.<br