Chinese authorities to distribute 10 million digital yuan to residents for trial use

Luohu District Authority in Shenzhen, China to Distribute 10M RMB Digital Gift Cards to Local Residents to Stimulate Demand for New Payment System.

The authorities will draw 50,000 digital gift cards, each containing 200 yuan. To participate in the lottery, residents of Shenzhen must first register through the iShenzhen blockchain application. On Sunday, city officials will announce the winners you will need to open an electronic wallet.

In addition to carrying out large-scale real-world testing of the new payment system, the administration also expects gifts to stimulate local consumption, as 3,389 stores in Luohu will accept digital funds from October 12-18. Officials estimate total demand will rise by 50 million yuan.

Chinese authorities to distribute 10 million digital yuan to residents for trial use

China began testing the DC / EP system in early 2020, and large companies began to show interest in it in July..

Chinese authorities to distribute 10 million digital yuan for trial use

text: Ivan Malichenko, photo: hightech

Chinese authorities to distribute 10 million digital yuan to residents for trial use

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