Thursday, April 18, 2024

China Becomes the First Major Economy of the World by Issuing Digital Currency to Its Citizens

Recently the Government of China has begun issuing the digital currency to its citizens and due to this it has also become the first World’s major economy.

However, China has become the official World’s major economy to launch its blockchain version of its own currency.

The Wall Street Journal stated that, 750,000 recipients of China have been already determined by lottery system and they can spend their digital Yuan in the stores as well as online by using the special app.

This app is based on payments that are already very common in the Chinese physical businesses; however, the merchants were really quick to adapt to new offers of government. According to the reports, Starbucks is among those who are already accepting the digital Yuan.

Mehjabeen Qasim
Mehjabeen Qasim
Business Journalist at Startup Pakistan

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