Authorities of the Chinese city of Shenzhen will distribute among the population 20 million digital yuan (about $3.1 million) as part of a new pilot program to promote the use of the new form of currency, according to Xinhuanet.
This will be the third lottery distributing 200-yuan red envelopes to residents of the city.
In October 2020, city authorities carried out the first distribution of the national digital currency (DCEP) among residents. At that time, more than 1.9 million residents applied for one of the 50,000 ‘red envelopes’.
In the first half of January, Shenzhen hosted a second mass experiment in the use of DCEP. This time, residents received 100,000 packages of the digital currency. The lottery winners were required to spend the funds from January 7 to 17; more than 10,000 merchants offered their services.
According to the Chinese publication, participation in the new DCEP test was offered to employees of enterprises in the city district of Longhua, who remain in Shenzhen during the Spring Festival. More than 3,500 outlets will provide them with the ability to pay for purchases using digital wallets from February 1 to 9.
During the second mass DCEP test in the city, residents conducted almost 140,000 transactions totaling 18.22 million yuan (~$2.8 million).
Earlier in December, the Suzhou took place the experiment distributing 100,000 ‘red envelopes’ containing 200 DCEP.
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