Suzhou city prepares to roll out digital yuan trial scheme

Suzhou city prepares to roll out digital yuan trial scheme
фото показано с : invezz.com

2020-11-24 16:14

Chinese city Suzhou has decided to launch what it calls a “red envelope” trial for the country’s impending digital yuan.

This will be the second time a Chinese city will be rolling out a test phase for the digital yuan. Last month another Chinese city Shenzhen rolled out a pilot scheme. From insider reports, the Suzhou district wants to launch the giveaway on the same day as China’s Double 12 chopping event on December 12.

In anticipation of the forthcoming trial scheme, several businesses in the district have set up near-field communication QP codes.

In the first trial scheme held in Shenzhen, there were 10 million digital yuan distributed to about 50,000 beneficiaries of the red envelopes through a lottery format. As reported earlier, about 95 percent of the beneficiaries have already spent their 200 digital yuan prize within two weeks of the prize money is distributed.

Some of the participants even wanted to buy more of the yuan.

But the participants of the Shenzhen trial launch could not use the panda wallets, which is the digital wallet’s “touch” and “offline” functions.

But the Suzhou launch has this functionality, as it enables users and holders of the yuan digital currency to carry out the transfer of transactions. They can do this by tapping their mobile devices, even if the devices are not connected to the network.

Chengdu city will be the next to launch a trial scheme

E-commerce giant Alibaba will be hosting the Double 12 shopping event. It will be coming after the launch of the much-anticipated “Singles Day”. The shopping event will concentrate more on small brands and offline spending than online spending.

Apart from the city of Shenzhen and Suzhou launching their trials, Chengdu city is also planning to roll out its yuan digital currency trial. The venue of the 2022 Winter Olympics has also been billed to participate in another closed pilot scheme. These trials are coming as China prepares to launch its digital yuan. The country with the largest population in the world has been planning to roll out its digital yuan. As it stands, the launch stage will happen after the successful testing schemes from various districts.

The post Suzhou city prepares to roll out digital yuan trial scheme appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Digital Rupees (DRS) на Currencies.ru

$ 6.38E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $6.38E-5 - H: $6.38E-5
Капитализация $32.611k Rank 99999
Доступно / Всего 510.803m DRS

digital yuan city chinese trial suzhou out

digital yuan → Результатов: 126


Фото:

US Lawmakers Are Making Moves To Ban China’s Digital Yuan From App Stores In The Country With New Bill

A trio of Republican lawmakers are making a move to limit the use of the digital yuan in American cyberspace. The lawmakers argue that the digital yuan could be used to spy on American citizens. While the US has stalled in its CBDC development, China has made significant strides with its digital yuan. China’s digital […]

2022-5-31 16:08


Фото:

China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced

The working group involved with the research and development of the digital yuan for the People’s Bank of China (PBOC) has published a paper describing the digital currency’s progress. The PBOC initiated a task force dedicated to the creation of a digital yuan in 2014, and the recently published document is the project’s first white […]

2021-7-17 21:30


Фото:

US Government Concerned China’s Digital Yuan Could Threaten Dollar as the World’s Dominant Reserve Currency

The U.S. government is reportedly concerned that China’s digital yuan could threaten the U.S. dollar’s status as the world’s dominant reserve currency. Officials at the Treasury, State Department, Pentagon, and National Security Council are increasing their efforts to understand the implications of China’s central bank digital currency. Digital Yuan Could Be a Threat to US […]

2021-4-14 19:15


Фото:

Huawei Backs the Digital Yuan

The upcoming range of Huawei smartphones will have digital yuan wallets, the phone manufacturer has announced on Oct 30. Mate 40 Smartphones Have Digital Yuan Wallets Through its Weibo channel, the Shenzhen-based tech giant said the central bank-backed currency (CBDC) wallet on their Mate 40 series will be secure, private, and support offline transactions.

2020-11-1 00:00


Ex-China Central Bank Governor Talks About Upcoming Digital Yuan and Its Benefits

The current president of the Chinese Finance Association, Zhou Xiaochuan, has recently talked about the upcoming digital yuan. According to the economist, who has worked as the former head of the People’s Bank of China, the country’s central bank, China will continue on its path to create a digital yuan to be used for both […]

2019-11-27 00:51