The Xiong’an branch of the Bank of China recently worked with China Xiong’an Group Digital City Tech to make the on-chain issuance of Digital Renminbi to local forestry employees for work remuneration.
The transaction was conducted via the Xiong’an New District’s own Blockchain Funds Payments Platform and involved the payment of salaries to workers on the Spring Season Forestation Project. The transaction marks the first time that China has seen the use of a blockchain + Digital Renminbi (digital RMB) model for salary payments purposes.
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