Shenzhen to pilot digital currency


Source: universdev.com universdev.com

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Shenzhen to pilot digital currency By tweet China’s southern boomtown of Shenzhen will issue 10 million yuan (US$1.47 million) worth of digital currency in a pilot program to promote the application of the new form of currency. The program, in collaboration with the country’s central bank, the People’s Bank of China, will issue the currency in 50,000 “red envelopes” worth 200 yuan each via a random draw. Starting from Friday, Shenzhen residents could apply to join the program through the country’s Big Four banks. But only some will be awarded the “red envelopes” via a lottery. The winners will be...