The Chinese province of Hebei is promoting the adoption of digital yuan by issuing discount coupons to residents, which can be used to get subsidized discounts of up to $73 at participating vendors. The event is being organized by the local government and the central People's Bank of China, with a state-owned commercial bank also participating.
However, there are concerns about the adoption rate of digital yuan, with critics claiming that adoption efforts have focused too much on token giveaways and privacy concerns are holding the token back. The cumulative volume of digital yuan transactions in several cities is less than $2.8 billion, indicating a relatively low adoption rate.
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