Chinese Central Bank will distribute 1.5 million dollars in e-yuan in the first public test of the new payment system
Authorities in Shenzhen, China, will conduct a $ 1.5 million free distribution pilot program as part of testing the cryptocurrency launched by the People’s Bank of China, Sina Finance announces.
The Shenzhen Municipal Cyberspace Administration will reportedly organize a lottery among 50,000 randomly selected people to distribute 10 million e-yuan ($ 1.5 million). To participate, the user has to register on the portal from October 9 to 11, providing their personal data: names and surnames, identification card and mobile phone number.
Then follow us on Google News!
Winners will have access to a 200 yuan ($ 30) bag of digital currency, which can be spent between October 12 and 18 at one of the 3,389 authorized outlets. The cryptocurrency cannot be transferred to someone else’s account, nor can it be converted into cash. Unspent funds will be withdrawn from the bags after October 18.
The People’s Bank of China has been developing a sovereign digital currency since last year. Speaking at the Sibos banking and finance conference on Monday, Fan Yifei, the deputy governor of the People’s Bank of China, highlighted that the e-yuan was already used in 3.13 million transactions worth more than $ 164 million.
TheBitcoinNews.com – Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise