Residents in Beijing are now able to try out the new digital yuan in nearly 2,000 stores in the Chinese capital. The country has given away about $6.3 million to locals to promote the virtual currency. It's part of China's push to launch a sovereign digital currency. China began exploring the concept of a blockchain-based sovereign digital currency in 2014. After years of development and testing, it launched trials of the digital yuan in 2020.
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