25 Nov

A new lottery where no one loses – China continues to test its digital currency

100% Guaranteed Winners – China is progressing at high speed on its crypto-yuan and its DC / EP (Digital Currency / Electronic Payment) system . After having offered its new digital currency for the first time in October for life-size tests, rebelote! A lottery is again organized .

Who wants to earn millions of e-yuan?

The People’s Bank of China (PBoC) is quite possibly one of the most advanced when it comes to central bank digital currency (MNBC).

The tests of this MNBC being so far successful , a first lottery was organized last month. 50,000 lucky citizens of the city of Shenzhen were drawn to win 200 digital yuan.

The experiment obviously worked very well since, according to the crypto-media The Block , the Chinese city of Suzhou is also preparing to launch a lottery for the month of December .

The famous red packets (red envelopes), symbols of gifts, will be distributed for a sort of Black Friday in Chinese style, celebrated on December 12 (12.12 shopping festival).

New: offline payments integrated into DC / EP?

The terms of this new lottery are not explicitly specified, but are announced as similar to that of Shenzen. So it could be that 10 million digital yuan – almost 1.5 million dollars – will be put into play again.

The big news would now be the possibility of making offline payments . Transactions between 2 wallets of the DC / EP system on a smartphone would be validated by NFC (Near Field Communication) .

Also according to the sources cited, many companies in Xiangcheng District in Suzhou have already installed compatible outlets to allow winners to spend their digital yuan.

The Chinese government’s DC / EP ecosystem is improving visibly for the year 2020. While other economic powers procrastinate on the relevance of issuing their own MNBCs, China is already proving it works. of its DC / EP in the real economy .