This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/525476-beijing-digital-yuan-handouts/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| China to hand out over $6 MILLION in another digital yuan lottery | China to hand out over $6 MILLION in another digital yuan lottery |
| (3 months later) | |
| The Beijing Local Financial Supervision and Administration Bureau has officially announced that some 40 million digital yuan ($6.2 million) will be distributed to the city’s residents as part of a new digital currency trial. | The Beijing Local Financial Supervision and Administration Bureau has officially announced that some 40 million digital yuan ($6.2 million) will be distributed to the city’s residents as part of a new digital currency trial. |
| Starting this month, a total of 200,000 digital red envelopes, each containing 200 digital yuan ($31), will be given to lottery winners in the digital renminbi test program, said the bureau. Red envelopes are a traditional way of gifting money in China. | Starting this month, a total of 200,000 digital red envelopes, each containing 200 digital yuan ($31), will be given to lottery winners in the digital renminbi test program, said the bureau. Red envelopes are a traditional way of gifting money in China. |
| Beijing residents can sign up for the lottery through the mobile applications of the People’s Bank of China (PBOC), as well as the Industrial and Commercial Bank of China, until midnight on June 7. The winners will be able to spend their prizes by June 20. | Beijing residents can sign up for the lottery through the mobile applications of the People’s Bank of China (PBOC), as well as the Industrial and Commercial Bank of China, until midnight on June 7. The winners will be able to spend their prizes by June 20. |
| The Chinese government has already carried out multiple e-yuan giveaways as part of its digital currency tests and plans to expand the pilot program in the future. | The Chinese government has already carried out multiple e-yuan giveaways as part of its digital currency tests and plans to expand the pilot program in the future. |
| Last year, the PBOC revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. It said that the new currency, which doesn’t have an official name but is known by its internal shorthand DCEP – or Digital Currency Electronic Payment – will share some features with cryptocurrencies. The e-yuan is projected to replace cash in circulation, while China plans to become the first major economy to test a digital currency on a national level. | Last year, the PBOC revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. It said that the new currency, which doesn’t have an official name but is known by its internal shorthand DCEP – or Digital Currency Electronic Payment – will share some features with cryptocurrencies. The e-yuan is projected to replace cash in circulation, while China plans to become the first major economy to test a digital currency on a national level. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |