The Chinese government has begun to issue blockchain-powered digital currency to its citizens. The Wall Street Journal reports that 750,000 recipients have been determined by a lottery system and can already spend their digital Yuan in stores and online using a special app.
App-based payments are already very common in Chinese brick-and-mortar businesses, so merchants were quick to adapt to the government’s new offer. Starbucks and McDonald’s are reportedly among those already accepting the digital Yuan, as is the Chinese Communist Party.
