CHINA - Residents Testing Digital Yuan

Arno Froese

This digital yuan test was organized by Hainan’s Treasury Department and the People’s Bank of China (the country’s central bank). The donated funds can be spent on 1,300 businesses on the island, including supermarkets, hotels and duty free stores. The financing for this event was provided by Sanya’s government. As the organizers noted, the tests themselves do not yet mean the launch of a program for the free use of the digital yuan on Hainan.

China began implementing a national virtual currency at the end of 2019. The digital yuan is electronic money centrally issued by the People’s Bank of China. They cost the same as regular Chinese paper banknotes. According to the plans of the country’s central bank, over time, the digital yuan should replace part of the cash in circulation.

It is planned that during the Winter Olympic Games in February 2022, athletes and guests will be able to pay in digital yuan.

-tass.com, 5 October 2021

Arno's Commentary

Digital currency is definitely the future. While paper currency is still king, as other articles indicate, its days are numbered. 

Remember the old days, when one wrote a check to pay a bill? The merchant had to endorse it and carry it to the bank. The bank’s employee had to enter all the pertinent information and transport the physical check to the originating bank. That cost time and money. Daily, checks by the planeload were flown from the east to the west and from the north to the south. Finally, the person who wrote the check received it back from his bank with the monthly statement. That we may call ancient history. 

Here at Midnight Call, checks received go through a digital scanner, and the money is deposited in the ministry’s bank account in short order. The scanner captures an image of both sides, which is digitally stored in the bank, and the original check is destroyed after seven days. We are obviously grateful for this development, as we no longer have to go to the bank every day as we had done for over 40 years.

The reason we explain this matter is to show that there is no other way in the end, but for each person to be assigned an account number. That is already the case in virtually all countries; in the US, for example, a person receives their Social Security number at birth. But in the final days, in order to access the account, authorization will have to come from the mark of the beast.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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