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30 October 2020

The Digital Yuan Has Entered a Whole New Period of Testing | Live Bitcoin News

The Digital Yuan Has Entered a Whole New Period of Testing | Live Bitcoin News


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The currency’s pilot program saw the Shenzhen Municipal Cyberspace Administration developing a lottery amongst 50,000 people – all randomly selected – who will get part of the 10 million digital yuan pot (worth roughly $1.5 million in USD at press time).

Those who are selected will get as much as $30 worth of the digital yuan.

They will then be required to spend the money between the dates of October 12 and 18 at one of over 3,000 selected retailers.

Executives in charge of the pilot are being rather strict with the rules of the program and are forbidding the selected users from transferring the money to digital accounts owned by other people.

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