China’s one of the major banks China Construction Bank (CCB) started wallet registration for DCEP (digital currency electronic payment) according to the report from 8BTCnews earlier today on August 29, 2020. However, a few hours later, 8BTCnews reported on Twitter that it is being shut down because a large number of people ‘flooded in’.
CCB started RMB Wallet Registration
At around noon, a tweet came from 8BTCnews stating that the China Construction Bank has begun the wallet registration for DCEP referred to as RMB wallet registration. According to the tweet, the wallet registration service was opened up in a mobile application. This allowed users to apply for a digital currency electronic payment wallet through the CCB mobile app. They can search “digital currency” and then apply for the wallet.
The tweet reads:
“China Construction Bank (CCB) has opened digital RMB wallet registration, and users can now apply for digital RMB wallet by searching for “digital currency” on CCB App. The wallet currently supports bank card recharge, QR code collection and payment, as well as transfers. #CBDC”
The feature got disabled by the bank
The service offered by the Chinese banking giant gained wider attention among people. The news spread very quickly in the cryptocurrency community. However, the feature has got disabled by the major bank because it was flooded in by many people.
Now when anyone searches again with “digital currency” it says that the service is not available officially at the moment for you. This is the message that people get when they search in the CCB mobile app, “This function is not yet officially available to the public. Please wait patiently.”
This means that the work is continuously being done by the Chinese government and commercial banks on their central bank digital currency (CBDC) known as the digital Yuan and its adoption in the country. The trail projects of Digital Yuan are currently being conducted by the People’s Bank of China (PBoC) in various major cities across the country and the centralized digital currency will soon be launched officially.
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