The China’s central bank has reportedly inched one step further towards a digital currency creation, via rolling out a pilot edition of its digital yuan wallet application across mobile phone app stores.

Specifically, The People’s Bank of China (PBoC) digital currency research institute reportedly put in the work to introduce the “e-CNY (Pilot Version)” app, which can be downloaded from Chinese Android and Apple app stores, beginning December 4th in Shanghai.

Per a Twitter post from BlockBeats, China-based individual users will reportedly have the freedom to download an earlier version of the app, to run testing of features supporting opening and managing a personal wallet, together with digital yuan transactions.

Nonetheless, Reuters reportedly revealed that the app is still in its experimental research and development stage, and will be rolled out to a particularly chosen group of users, via authorized e-CNY service providers.

In late fall of last year, PBoC Governor Yi Gang reportedly disclosed the nation’s decision to keep on the development work of its central bank digital currency (CBDC), as well as adding enhancements to design and usage, including enhancing interoperability, to the existing payment networks.

The PBoC reportedly further revealed its intentions to invest additional efforts and resources towards the development of the digital yuan.

China has reportedly been in the leading position in terms of building a CBDC for public use, leaving the majority of nations – which mostly are still in the research phases for a CBDC – behind. 

The People’s Bank of China reportedly claimed that the digital currency could be introduced for usage at the Beijing Winter Olympics this year.

Nonetheless, senators from America have reportedly shared their worries for the above claim, stating that American athletes should not use the currency at an event organized in China.