Digital yuan being tested at Chinese high school
“Smart ID card” allows students to make purchases – and parents to track them
The People’s Bank of China has extended its trial of central bank digital currency (CBDC) into a school, allowing students to make purchases with the digital yuan via a “smart ID card”.
The device, which is essentially a small mobile phone, allows students to pay using the CBDC, as well as make phone calls to a restricted set of numbers.
It also contains GPS tracking, allowing the school and the student’s parents to monitor where they are and what they are buying, according to a report by
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