The Chinese city of Suzhou is planning to give out digital yuan worth $3 million through a lottery as the government plans a wider trial of the digital currency. According to an announcement by the Suzhou government, eligible Suzhou citizens would have access to 20 million yuan in a new trial round.
As noted in the announcements, there would be a total of 100,000 red packets, with each packet worth $30 or 200 yuan. The announcement further revealed:
“‘Double 12 Suzhou Festival’ digital renminbi consumption red envelopes are issued in the form of ‘lottery drawing’.” The lottery registration channel will be officially opened at 0:00 on December 5, 2020 and will last until 24:00 on December 6.”
To register for the lottery, the announcement stated that Suzhou citizens would need to download the “Su Zhou DA” app on Google Play Store or Apple App Store. After downloading the app, city residents would then register with their original names before logging into the Su Zhou Da app.
After the result of the lottery is announced on the 11th of December, winners will be able to purchase goods at designated stores in the Suzhou region using the digital yuan till the 27th of December.
The announcement added that Suzhou citizens can only activate a DC/EP wallet through six financial institutions. They include China Construction Bank, Bank of Communications, Agricultural Bank of China, the Industrial and Commercial Bank of China (ICBC), and the Postal Savings Bank of China.
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