Starbucks, McDonald's To Test China's Digital Yuan

Plus a good ol' fashioned bitcoin price rally

Happy Thursday, Blockfolians

The Lede

China is serious about its digital currency project. Last week, we got our first peek of the beta app being tested by the Agricultural Bank of China for interfacing with the DC/EP. This week, we learned that Starbucks, McDonald’s and Subway were among the first firms who will be testing the currency in the Hebei province.

Starbucks sees big growth in China

While we don’t know when the tests will begin or how long they will go for, its become abundantly clear that 2020 will be the year China rolls out its CBDC.

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Highly Relevant Reading


Community Commentary

Bitcoin ETF freedom fighter Gabor Gurbacs makes a good point about bitcoin’s ever more relevant narrative
Some indications that decentralized alternatives to major social networks might actually be viable

A Really Big Number We Should Be Paying Attention To

10%

That’s the size of bitcoin’s recent price rally - getting us back to pre Black Thursday levels.


Final Thought

The millennials have a new anthem.