China Expands Sovereign Digital Currency; Students Now Use e-CNY Card for Purchasing
China's expanding sovereign digital currency has now arrived in school via a small device that allows parents to track the location and spending of their children.

Source: Tech Times. "China Expands Sovereign Digital Currency; Students Now Use e-CNY Card for Purchasing" by Sophie Webster.

New e-CNY is Now Available in Schools

 The new e-CNY card, which is a small mobile phone, is being made available to students at Hainan Luxun High School in Sanya, China.

The device allows students to make payments at designated stores and make calls with select numbers. The location tracking is enabled through GPS, according to Central Banking.

Parents can even place limits on the device via the e-CNY app. China's digital currency wallet became available nationwide in January.

The app lets parents top up their children's e-wallets and access their consumption records through a special SIM card.

Parents can also select which phone numbers can reach the device, which was co-developed by the Industrial and Commercial Bank of China and telecommunications companies, according to SCMP. 

Aside from the numbers of three trusted family members, the parents can add up to 20 other numbers for incoming calls to the device to help children avoid being harassed by unknown calls.

With smartphones banned by the education ministry at both primary and middle schools, the project at Hainan Luxun High School, which covers grades one to 12, aims to satisfy the needs for parents and students to communicate and address the issues of students' daily spending and commuting safety.

Please read the full article here.