In China, the electronic version of the yuan is being tested. Many important cities have been chosen to pilot this life-size test. And the least that can be said is that the Chinese government does not hesitate to be original in order to gain the support of the population at its national electronic currency. Ihe has just organized a lottery in Shenzhen, the prize of which will be paid in electronic Yuan (or e–Yuan).
A lottery with electronic Yuan prizes
In the city of Shenzhen, the authorities organized a lottery. The principle is simple. All Chinese citizens can apply. What do they gain in return? The lottery involves “red packets”. They are like a set of vouchers in electronic Yuan. Each "red packet" is worth $ 30 (evening approximately € 25).
We can say that the authorities have gone all out! All in all, the game has over 50,000 winners. In total, therefore, an overall gain of approximately $ 1.5 million is distributed to the various winners. Lottery registration has been completed of Friday 9 at Sunday 11 October 2020. More than 2 million Chinese have tried their luck! On October 11, the winners were drawn.
The “red packetsCan be used in more than 3,800 stores in the city. The lottery partner network includes restaurants, of gas stations, of pharmacies, of supermarkets, etc. To use their voucher, winners must download the Renmindbi app on their smartphone. Vouchers must be useds before Sunday October 19 2020 and cannot be exchanged.
The lottery is the latest means devised by the Chinese authorities to raise awareness among thea population at e–Yuan. This idea is all the more successful as it at the same time gives households a welcome financial boost. Lat region from Shenzhen was very impacted by the COVID-19 epidemic. Its inhabitants have therefore been strongly affected economically in recent months.
The Electronic Yuan Experimentation in China
The electronic Yuan is being tested in the country. The test has met with significant success so far. More than three million transactions have already been carried out for a total value of $ 162 million. China has taken most of its economic competitors by surprise by being the first to launch such an initiative. The United States and Europe are still reflecting on the potential creation of electronic money.
The Electronic Yuan is developed and controlled by the Central Bank of China. This currency is considered in the long term as a means of safeguarding national sovereignty in the face of the increasingly numerous threats of cryptos private, of the Litecoin type. In addition, electronic money is of great interest in China, which records a large number of electronic transactions. Many Chinese already regularly use smartphone applications (TenCent, AliPay, etc.) from FinTech for their payment.