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China's Digital Yuan May Come With Hardware Wallets, Which Could Prevent Anonymous Transactions
Summary: China's digital yuan may come with a hardware wallet in addition to wallet services provided in mobile banking apps, as reported by Coindesk. This past weekend on of China's big four state-owned banks temporarily released a wallet service open to users for China's central bank digital currency on its app. The terms and services agreement ...
China's digital yuan may come with a hardware wallet in addition to wallet services provided in mobile banking apps, as reported by Coindesk.
This past weekend on of China's big four state-owned banks temporarily released a wallet service open to users for China's central bank digital currency on its app. The terms and services agreement which has since been taken down noted that separate hardware wallets may also soon become available, according to a Coindesk analysis.
A digital currency allows users to store funds without using a bank. A seperate hardware wallet would allow users to keep larger sums of money offline without relying on a mobile app.
The hardware wallet would require personal information to activate so it would strip the anonymity of physical cash.
By Emily Mason
Tags: CBDC,Digital Yuan
Link: China's Digital Yuan May Come With Hardware Wallets, Which Could Prevent Anonymous Transactions [Copy]
