New payment method: China Digital renminbi (E-CNY)

[RadishXN]

Why
Digital RMB uses dual offline technology, allowing transfers to be completed using Digital RMB even when there is no internet access and no bank account, as long as both parties to the transaction have a DC/EP digital wallet installed on their cell phones.

Region
China

Currencies
CNY

Chargeback risk
I don't think it is possible. Not confirmed.

Size of user base
Most Chinese can use it, can't tell how many actually do.

Data requirements
ID is the minimum

Verification
Almost same as alipay and wechat pay.

Duration
Typically it is imediately.

Fees
No fees

Fraud risk
I dont know how this could be used for fraud.

Payment amounts
No minimum. Not sure official maxium, but it says might be notice if it is seems money laundering, terrorist financing and tax evasion.

Payment description
Yes

Name
This is "Digital renminbi", always called "E-CNY".

More information:
https://www.cebnet.com.cn/search/result.shtml?siteID=123&query=%E6%95%B0%E5%AD%97%E4%BA%BA%E6%B0%91%E5%B8%81

[pazza83]

@RadishXN thanks for creating this proposal. Will add it to the new payment methods to look into.

[flix1]

I think that this a very interesting payment method to include for a number of reasons:

1. No CEX has it. Bisq would be ahead of the market.

2. Many other countries have plans to launch CBDCs soon. We can learn useful lessons from testing e-CNY for e-EUR, e-USD, etc.

3. We have already tried it with the F2F (e-CNY) workaround mentioned here: https://twitter.com/bisq_network/status/1633093747306115072
   

4. China is a very strategic market for Bisq. We have to keep trying new things until we manage to kickstart the market there. There's currently no liquidity, so there's nothing to lose and a lot to gain.

[flix1]

https://cbdctracker.org/ shows all the CBDC projects currently in the works. Most of the world governments are working on a launch soon.

We should adapt fast.