{"id":146779,"date":"2021-01-04T14:40:36","date_gmt":"2021-01-04T11:40:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/selected-shenzhen-residents-to-get-lottery-red-envelopes-with-digital-yuan\/"},"modified":"2021-01-04T14:40:36","modified_gmt":"2021-01-04T11:40:36","slug":"selected-shenzhen-residents-to-get-lottery-red-envelopes-with-digital-yuan","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/selected-shenzhen-residents-to-get-lottery-red-envelopes-with-digital-yuan\/","title":{"rendered":"# Selected Shenzhen residents to get lottery ‘red envelopes’ with digital yuan"},"content":{"rendered":"

“# Selected Shenzhen residents to get lottery ‘red envelopes’ with digital yuan <\/strong>”
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Programs to pilot and encourage widespread adoption of China’s central bank digital currency, known as DC\/EP or the digital yuan, are continuing apace.\u00a0<\/p>\n

As a New Year’s offering, the city of Shenzhen is offering its residents the option to register to take part in a municipal lottery, as of Jan. 1, with registrations closing this morning, Jan. 4, at 10 a.m. local time. Those interested were able to sign up for the lottery using the iShenzhen event registration platform, according to an announcement<\/a> by the Shenzhen government.\u00a0The lottery is strictly speaking not a competition but is being settled on a first-come, first-serve basis.<\/p>\n

In total, the city plans to give 100,000 “red envelopes” to lottery winners, each containing 200 digital yuan (roughly $31). \u00a0The envelopes’ combined value is estimated at roughly $3 million, and recipients will be able to spend their gifted currency across 10,000 supported merchants. The envelopes will only be active for just 10 days, after which the currency will expire.<\/p>\n

To spend their currency, lottery winners will need to download<\/a> and install an app and open a personal digital wallet, having earlier provided their resident ID cards and mobile phone numbers for registration.<\/p>\n

As previously reported, China’s highly-anticipated digital currency had already been used in over 4 million transactions by November 2020,\u00a0totaling more than 2 billion yuan ($299 million) in value. Pilots have been ongoing since April of that year, with early trials focused on major cities\u00a0such as\u00a0Shenzhen, Chengdu, Suzhou and Xiongan.<\/p>\n

The digital yuan’s unveiling has drawn public officials\u00a0and reporters to analyze its potential geopolitical implications and its potential impact on a global financial system that continues to pivot around the United States dollar as the global reserve currency. In mid-December,\u00a0the South China Morning Post cited\u00a0Zhou Xiaochuan \u2014 the president of the Chinese Finance Association and former People’s Bank of China governor \u2014 who argued that the DCEP does not intend to\u00a0replace global fiat currencies such as the U.S. dollar or the euro.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Selected Shenzhen residents to get lottery ‘red envelopes’ with digital yuan ” Programs to pilot and encourage widespread adoption of China’s central bank digital currency, known as DC\/EP or the digital yuan, are continuing apace.\u00a0 As a New Year’s offering, the city of Shenzhen is offering its residents the option to register to take…<\/p>\n","protected":false},"author":1,"featured_media":146780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/37e9a578-1451-4e18-9a7b-f958b07904e6.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,75022,75057,74355,4973,4965],"class_list":["post-146779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-central-bank","tag-yuan","tag-adoption","tag-china","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/146779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=146779"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/146779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/146780"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=146779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=146779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=146779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}