Chinese universities adopting digital yuan
Universities in China have begun adopting the digital yuan and are looking for ways to allow students to use the nation's central bank digital currency (CBDC) in "every" aspect of their campus life, one of the tech firms told Chinese media outlet Stockstar.
Zhejiang Zhengyuan Zhihui Technology said it has deployed its digital yuan payment solutions "in many universities" in the pilot zone.
Among them is China's most prestigious Soochow University (Suzhou). The company said that "all" of Soochow University's campus buildings had been updated to process digital yuan payments.
The company added that Soochow University has become "first full-scenario digital yuan university in China." This means that students can pay for rides on university-run transport, as well as use their CBDC wallets as a kind of ID to pass through automatic turnstiles and register their attendance at classes.
The company also said the digital yuan wallet solution is also being used at "enterprises," where they could replace employee smartcards.
Universities in China often have small, relatively closed economic ecosystems and so they were often used during the pilot to experiment with new digital yuan payment options.
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