Blockchain for Banking News

China upgrades digital RMB CBDC hardware wallet

digital rmb hardware wallet

As part of its work on central bank digital currency (CBDC), China has always aimed to be inclusive. Hence, it wants the digital RMB to be usable by people who either don’t use smartphones or have unreliable internet connectivity. That includes the elderly and tourists who may not want to use the eCNY smartphone wallet.

In 2021 it launched digital hardware wallets which look like prepaid debit cards. Now the central bank’s Digital Currency Research Institute has unveiled an upgraded version of the cards with improved usability.

The 2021 iteration below included buttons so that users could enter the payment amount and the e-ink visual display was small. E-ink is the same technology used in Amazon Kindle readers.

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Image Copyright: ITBear China