A city within China ‘Shenzhen’ is holding the 2nd lottery of the country’s CBDC [Central Bank Digital Currency] next month.
Later on 12 Dec., a shopping festival referred to as “Double 12” in China, the town of Suzhou will hold a giveaway designed to measure usability of the digital yuan, consistent with a report from native news source ‘The Paper’ on Monday.
The trial is going to be almost like one held in Shenzhen earlier in October, which permitted residents to use for a 200 yuan share of 10 Mln units of the CBDC within a type of lottery, worth around $1.5 Mln in total.
The Suzhou event will trial additional aspects of the technology not activated in Shenzhen, along with the digital yuan’s offline feature that permits users to the touch smart devices to proceed with the transfers.
The Paper revealed that “many” businesses within the Xiangcheng district of Suzhou have already installed point-of-sales tech with NFC [near-field communication] as well as QR code capabilities allowing the digital yuan winnings to be spent.
The report also cites that another city, Chengdu, is holding a closed beta trial of the CBDC, permitting invited participants to use a virtual wallet for transactions via a “major bank.”