Despite the Chinese government’s push for the adoption of the digital yuan, many workers are still hesitant to use it for their daily transactions.
What Happened: Sammy Lin, an account manager at a state-owned bank in Suzhou, receives her monthly salary in digital yuan. However, she, like many others, prefers to convert it into regular cash due to the lack of interest and limited usability, reported South China Morning Post.
“I prefer not to keep the money in the e-CNY app, because there's no interest if I leave it there,” Lin said.
Changshu, a city in Suzhou, began paying its public sector workers in digital yuan a year ago, followed by other employers. However, the employees are not using the digital currency directly due to concerns about privacy and its limited functionality.
Ye Dongyan, a researcher at ...