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In 2022, Guangzhou will progress digital yuan and blockchain experiments

Guangdong Province’s Government Report for 2022 predicts that Guangzhou. That’s, the province’s capital, will become a digital yuan testbed and a blockchain innovation application pilot hub in 2022.

In September 2021, Guangzhou sought to become a new digital yuan pilot city.
Guangzhou is a prominent city in the Greater Bay Area comprising Guangdong, Hong Kong, and Macao (GBA).

Shenzhen is now the sole digital yuan pilot city in the GBA.
China’s e-CNY, is widely regarded as the world’s most advanced central bank digital currency (CBDC).

A local financial body awarded 5 million yuan (US$ 788,221) to a project called

“digital yuan payment and settlement & judicial depository system for the Greater Bay Area” in November.

In addition, receiving permission from the Ministry of Industry and Information Technology last year, Guangzhou will become a blockchain demonstration region.
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