Chinese Digital Yuan Trial Goes Live: Giving Away 10 Million Yuans

The Chinese digital yuan trial has gone life following the big announcement made last weekend. During the weekend, China's southern city of Shenzhen, a major Chinese city, announced that it was giving away 10 million yuan ($2 million) in its Central Bank Digital Currency. According to them, the digital yuan can be used across 3,389 stores. The main objective of the giveaway is to encourage the usage of the new government-backed digital currency. Close to 2 million people applied to…