China’s First On-Chain Digital Renminbi Salaries Paid to Workers in Xiong’an New District

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Xiong’an New District in Hebei province has just debuted the use of the Digital Renminbi to make salary payments via a local blockchain platform.

The Xiong’an branch of the Bank of China recently worked with China Xiong’an Group Digital City Tech Co., Ltd. (中国雄安集团数字城市科技有限公司) to make the on-chain issuance of Digital Renminbi to local forestry employees for work remuneration, according to a 15 June report from Cailian She.

The transaction was conducted via the Xiong’an New District’s own “Blockchain Funds Payments Platform” (区块链资金支付平台), and involved the payment of salaries to workers on the “Spring Season Forestation Project” (春季造林项目).

The transaction marks the first time that China has seen the use of a “Blockchain + Digital Renminbi” model for salary payments purposes.

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