China's "dual offline" wallet is expected to be applied in the follow-up pilot testing, said Changchun Mu, Director of the Chinese Institute of Central Bank Digital Currency.
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According to 8btc, the wallet authorization is based on a mobile phone number. However, Mu highlights the wallet is not tied to a mobile phone number as the phone is only needed to receive an authorization code.
"The “dual offline” wallet has been fully developed and having friendly user experience," Mu added.
iHodl earlier reported that in ahead of the launch of the digital yuan, the People's Bank of China (PBoC) is considering total ban for all cryptocurrencies, issued by "any individual or entity."
According to the recently published amendments to the bill on the "Law of the People's Republic of China," the issuance of digital tokens to replace renminbi (the official currency of China) is prohibited for any"individual or entity."
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