A report said that the vast majority of China’s $1.5 million digital yuan lottery winners have received and spent their “red packets” of digital yuan.
On October 18, it has been reported by the Shenzhen authorities that as of October 18, a total of 47,573 out of 50,000 lottery winners in China have received their prizes.
However, the winners conducted a total of 62,788 transactions accounting for 8.8 million yuan ($1.3 million), as this amount represents about 88% of the total 10 million yuan ($1.5 million) that was to be distributed in the giveaway pilot in Shenzhen.
As per the report, some winners have not only spent their “red packets,” but also topped up their wallets, having purchased an additional 901,000 yuan ($134,000).
Shenzhen launched a pilot program to promote the digital yuan with a public giveaway on October 9.
As previously reported, a total of 2 million people applied to participate in Shenzhen’s digital yuan giveaway program as of October 12.
Thus, China’s central bank digital currency, the digital yuan, began testing in April 2020, as pilots were subsequently expanded to nine cities including Shenzhen, Guangzhou, as well as Hong Kong, and Macau.
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.