As China’s central bank digital currency (CBDC) extends its testing phase, more organizations are joining the trials. Yesterday, ride sharing firm Didi announced it reached a cooperation agreement related to the currency known as the DCEP with the Digital Currency Research Institute of the People’s Bank of China. It said it would be used for smart mobility. Leading Chinese news outlet Caixin Global listed two other organizations, based on insider sources.
One of the companies is ByteDance, the parent of TikTok the popular short video clip platform. Another is Meituan Dianping, the food delivery company.
If ByteDance is involved, it’s newsworthy because the company seems to be doing a bit of a dance itself. Following China’s imposition of new security laws in Hong Kong, several social media outlets said they would no longer respond to requests for user information from the Hong Kong police. They included Facebook, WhatsApp, Twitter, Google and Telegram. TikTok was a belated addition.
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