In the first four days since the “digital yuan” hard wallets became accessible to the islanders, only 625 Hong Kongers had actually obtained them, local media reported.
The Chinese government’s beloved project of central bank digital currency has not sparked much enthusiasm in the citizens of Hong Kong. In the first four days since the “digital yuan” hard wallets became accessible to the islanders, only 625 Hongkongers had actually obtained them.by the local newspaper on Feb. 28, the city of Shenzhen installed the machines, dispensing the hard wallets for digital yuan, the first of a kind in the whole country.
The goal of the initiative, launched by the Bank of China and smart card provider Octopus Card, was to issue 50,000 hard wallets by March 31. However, during the first four days after the machines’ installation, only 625 wallets have actually been demanded by the customers. Apparently, even the 20% discount on purchases from 1,400 local vendors, subsidized for the CBDC owners by the government, hasn’t become a decisive factor for the potential holders.
However, as the Securities Times highlights, the local authorities will continue their efforts to promote the digital yuan for Hong Kong citizens, including the project of a SIM-card hard wallet, which would combine the financial and communicational functions. The reason lies in a greater political mission to integrate the recently independent island city in the Guangdong–Hong Kong–Macao Greater Bay Area.
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