COVID-19: Boosting Crypto Adoption and Mainstream Acceptance by Cointelegraph

Crypto is an industry characterized by rapid changes, and its evolution is fitting for a sector that emerged in the digital age. Currently, China is at the forefront of global digital asset initiatives. The pace of innovation is accelerating, particularly with the development of the digital yuan, also known as DCEP, which has greatly advanced the field of distributed ledger technology.

Rather than becoming bogged down by regulatory challenges, the Chinese government has focused on the potential advantages of digital currency. The country has made significant progress despite the challenges posed by the coronavirus pandemic, which has greatly impacted societies and economies worldwide. Reports indicate that major brands like McDonald’s and Starbucks are participating in trials for the digital yuan, as part of a pilot program preceding a broader launch of this new currency. As the launch of the Chinese central bank digital currency draws near, there is a growing global demand for digital cash and fintech applications.