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China’s digital yuan wallet is now available in beta on app stores

In China, a prototype version of e-CNY, China’s digital yuan mobile wallet. Also, it now live on iOS and Android app stores.

According to a tweet from BlockBeats, a local news outlet. Also, individual users in China can now download a version of the software. Inorder, to try out “personal wallet opening and management” as well as “e-CNY exchange and circulation services.”

Then, The People’s Bank of China’s Digital Currency Research Institute, an arm of China’s central bank is the e-CNY app’s creator.

So, Users must be physically in one of 11 areas to download the trial app and activate the wallet:

Namely, Shenzhen, Suzhou, Xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian, and the Winter Olympics area.

Notably, The digital yuan is a type of cryptocurrency as a Central Bank Digital Currency (CBDC). Of course, which a country’s government issues controls.

While many countries across the world are looking into the technology, China has taken the lead in developing a CBDC that can be used by the general public.

Its central bank states the digital yuan could be for the Beijing Winter Olympics in 2022 as early as April 2020. Senators from the United States are angry by the claim. Then, suggested that American participants in the event should not use the money.

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