China City Jinan Bus System Accepts CBDC

The Chinese city of Jinan is furthering its efforts towards central bank digital currency (CBDC) adoption; the bus transportation system will now accept China’s CBDC via digital payment means.

The capital of eastern China’s Shandong Province underwent a pilot phase on two bus lines, and after that, the city announced that it has implemented the new payments system for its whole bus network. Effectively, this meant that Jinan updated all of its card readers and the bus route software which will allow passengers to pay for bus tickets via the CBDC.

To incentivize citizens to utilize the digital yuan even further, Jinan is offering fare discounts to passengers who choose to pay using the CBDC payment method. Each individual which pays via the digital yuan can receive up to two discounted rides a day with a maximum of six a month.

China has been doubling its efforts towards CBDC adoption and testing into various use cases. Among the initiatives began on April 23, where the Chinese city of Changshu announced that it shall begin paying civil servant salaries via the digital yuan.

Sources:

https://cointelegraph.com/news/cbdc-legal-tender-in-chinese-city-jinan-for-bus-rides

https://cointelegraph.com/news/chinese-city-public-servants-to-receive-digital-rmb-salaries-from-may

https://www.cryptotimes.io/jinan-goes-cashless-cbdc-payment-now-accepted-for-bus-rides/