It is reported that ChinaPressure on McDonald’s to accept China’s central bank digital currency, according tolatest reportof the Financial Times, citing people familiar with the matter.
The fast-food giant has begun testing the digital yuan in Shanghai before. However, the Chinese government wants McDonald’s to be able to pay with CBDC at all locations across the country ahead of the Winter Olympics in the city. Beijing to start in early February
other big companies In the US, Nike and Visa are also facing pressure, according to reports.
Find these big brands with digital yuan startups. It will help support the use of Chinese digital currency. which has been criticized a lot due to privacy concerns.
The digital yuan is different from Bitcoin in that it is entirely regulated by the government. This means it can block transactions or even cause them to disappear accidentally. Human Rights Foundation Chief Strategy Officer Alex Gladstein believes the digital yuan will be used as a surveillance tool.
analystpredictthat the digital yuan will reach a 9% share of China’s domestic payments by 2025
refer : LINK
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