A 1.25 million euros digital currency lottery organized in China

The Flag of China -

Shenzhen, the Chinese city facing Hong Kong, organized a lottery last week allowing winners to share 10 million yuan, or 1.25 million euros in the form of digital currency, CNBC reported. by

.

Over two million people entered the draw, but only 50,000 were nominated.

They received 200 digital yuan, or about 25 euros.

The lucky winners will now be able to download an application that will allow them to spend this money at more than 3,000 merchant partners of the operation.

Supermarkets and pharmacies, just like Walmart stores, are among the merchants who will accept this specific

currency

.

Yuan Digital.

It is done !

1st public test, China distributes 1.5 million dollars of its digital currency.

https://t.co/RWglY3cjtt

- BusinessBourse (@BusinessBourse) October 13, 2020

Currency issued by the country's central bank

The digital yuan is not a cryptocurrency.

Unlike bitcoin, which is managed decentralized, China's digital currency is issued and controlled by the People's Bank of China, the country's central bank.

The digital yuan better visibility in Beijing on its currency ensures

.

It was not introduced to replace digital wallets like Alipay or WeChat Pay.

The digital yuan will complement these payment formulas.

Shenzhen is not the only city to start digital currency testing.

Suzhou, Xiong'an and Chengdu are also in the running.

For the government of Shenzhen, this experiment falls rather well.

In a statement, authorities said the initiative helped boost consumption after the pandemic.

Larger-scale tests could be carried out by the end of 2020.

Economy

Coronavirus: The European Central Bank launches a consultation on the creation of a "digital" euro

Miscellaneous

Toulouse: He offers friends to invest in cryptocurrencies and scams 35,000 euros

• Economy

• China

• Lottery

• Trade

• Virtual currency