More and more information is coming to light regarding China’s digital currency. It now seems McDonald’s will begin accepting it as well, which is rather impressive at this stage.
Finding new use cases for a brand new digital currency is always challenging.
China’s DCEP is Making Inroads
Especially in China, as a sovereign digital currency remains a tricky venture at all times.
It now appears that the first stage of trials will involve McDonald’s restaurants.
The DCEP project will be accepted by 14 firms during this initial phase.
McDonald’s, while foreign owned, is on that list, which took a lot of people by surprise.
Other noteworthy retailers include Starbucks, Subway, JD Supermarket, and UnionPay Supermarket.
All of these locations will accept the stablecoin pegged to the RMB.
This trial will give the Chinese government insights as to how it needs to move forward.
After all, the DCEP is designed to be a core aspect of the 2022 Winter Olympics.
Whether or not that is an achievable goal, is a different matter altogether.
There is no official release date for the DCEP as of yet, thus no one really knows what the future will hold for China’s digital currency.
Even so, this initial phase seems to receive ample support, which is worth looking into.