Beijing is piloting $ 6.2 million RMB, its main rival is BTC
China’s digital yuan plan seems to have entered the final stage of trial operation, and a separate gift is planned in the capital, Beijing. Like previous distributions in cities like Shenzhen and Chengdu, tokens are distributed by lottery, and few lucky residents get a “lucky” red digital envelope that includes access to the token. The tokens can then be accessed through two banking apps, allowing many retailers and online businesses to process payments through their own apps and over-the-counter terminals. According to CNBC, citing the Beijing Regional Financial Supervisory Commission, the latest distribution will be 200,000 “envelopes”, including about $ 31 each, and $ 6.2 million will be distributed in the capital. Residents must register by the June 7 deadline.
The latest test site is important. Beijing wants to prepare tokens for introduction to the world at the Winter Olympics in the capital in February 2010. Preparations have been underway for months, and a special ATM selling digital RMB in Beijing is now being tested by non-Chinese tourists.