China will distribute $ 6.2 million in lottery to Beijing citizens in the form of central bank tokens or digital yuan. To receive each $ 31 prize card, users must register for the lottery through two banking apps.
Residents of the Chinese capital they can Try your luck with two banking apps to win one of the 200,000 prize cards that the central bank will give to users in a pilot project. Each card contains a $ 31 bonus in the form of cryptocurrencies that can be used for purchases in some stores. The deadline for registration in this lottery is June 7th.
The world’s second largest economy has been working on digital yuan since 2014 and now plans to launch the project on a trial basis. Li Bo, deputy governor of the People’s Bank of China, said in April that the central bank would increase the scope of its pilot projects and may even allow foreign visitors to use the ciphers at the 2022 Beijing Winter Olympics.
Earlier, the city of Chengdu in southeastern China distributed $ 6.2 million worth of digital currency. Other cities, such as Shenzhen, also held similar lotteries for their citizens.
Digital yuan is not like cryptocurrencies like bitcoin. The project token is issued by the People’s Bank of China while bitcoin and many cryptocurrencies are decentralized. Earlier in April, China’s central bank governor said the digital yuan was being used domestically and did not want to challenge the dominance of currencies such as the US dollar. “Let’s provide.”
The Central Bank of China is retesting the cryptocurrencies in the wake of the country’s announcement of a tougher crackdown on cryptocurrency mining and trading a few days ago.