IT Home’s accordingThe Bank of China, China’s central bank, started the Digital RMB project to completely replace the RMB paper note in the country, which has now been improved through a new update. The RMB app (pilot version) has got many good features and is faster and more secure than before. The latest version of the app is 126.96.36.199, and it is available on Android and iOS in the country.
The changelog for the Digital RMB app says that the size of the app has now been reduced. Moreover, now the app will take less startup time. Its load time has also been made faster than before. Software improvements have been made in its PIN-less biometric transactions, making the security better than before. In addition, the app has been upgraded from 32-bit to 64-bit.
Gizmochina’s according, the Digital RMB app is an official legal digital currency, similar to a normal RMB paper note. China is hoping to convert to the digital RMB as the country’s official currency in the future.
The app allows users to create wallets within the app, send and request currency within the app, and benefit from transactions via QR codes. Reports suggest that the project is still undergoing pilot testing. However, in March 2022, Bank of China announced that the digital RMB project would be expanded to more cities in the country such as Tianjin, Chongqing, Guangzhou, Guangdong, Fuzhou and Xiamen in the near future.<!–