On July 11, the Bank of China declared it would be testing payments using the digital Yuan with SIM card-linked payments. This news has caused a surge of excitement among the Conflux (CFX) community, resulting in a 10% increase in the token’s price, bringing it to a high of $0.2046.
The enthusiasm stems from the Conflux Network’s previous partnership with China Telecom to develop a Blockchain-powered SIM card (BSIM) in May 2023. At the Xuhui District West Bank Artificial Intelligence Center in Shanghai, the two unveiled the BSIM card, which uses the near-field communication protocol (NFC) and “super SIM cards” technology to enable payments.
The post-announcement price increase reverses a seven-day decline that brought the CFX token from $0.197 to $0.175. As of press time, it is trading at $0.1981.
The Bank of China’s announcement that it will begin testing payments using the digital Yuan and the near-field communication protocol (NFC) is generating a great deal of excitement among the Conflux (CFX) community. On July 11, the CFX token experienced a 10% price surge, reaching a high of $0.2046. This upturn reverses a seven-day decline that had seen the token slide from $0.197 to $0.175.
The cause of the community’s enthusiasm is the Conflux Network’s partnership with China Telecom to develop a Blockchain-powered SIM card (BSIM) which was unveiled at the Xuhui District West Bank Artificial Intelligence Center in Shanghai back in May 2023. This card allows users to process digital Yuan payments by making contact with designated payment terminals with their mobile phones.
At press time, Conflux (CFX) token was trading at $0.1981. The post Conflux (CFX) soaring after Bank of China announced SIM Card NFC payments appeared first on CoinJournal.
