The authorities of the city of Suzhou will distribute the national cryptocurrency, playing it among local residents. They will be able to make purchases without access to the Internet
The Chinese government has selected another city to test the digital yuan.
On December 12, Suzhou authorities will distribute the national cryptocurrency among residents. It is reported by the local edition of The Paper.
The distribution of digital coins will take place in the same way as during the first testing in the city of Shenzhen, the publication specified. Then the cryptocurrency was distributed among the lottery participants.
Each of the winners received 200 yuan (about $ 30), and a total of 50 thousand people received the coins.
The publication clarified that another function will be tested as part of the new testing.
It will allow you to make payments offline. To do this, users will only have to bring two devices to each other with wallets for storing the digital yuan, for example, a smartphone to the terminal.
On November 11, the PRC announced that a city-wide pilot project is planned in Beijing to test the digital yuan, similar to the testing in Shenzhen.
Also, the government announced that the NBK Digital Currency Research Institute plans to create “testing zones for legally recognized digital currency.”
The exact launch date of the digital yuan is unknown. But China is preparing to use the national digital currency in Beijing during the 2022 Winter Olympics.
Sun Guofeng, head of the monetary policy department of the People’s Bank of China, said this in October.
