China has opened testing for its digital yuan. The excitement surrounding this project has electrified several major Chinese cities, as well as onlookers throughout the world.
Most recently, Shenzhen launched its “iShenzhen” lottery, wherein the city government will distribute 20 million digital yuan among 100,000 central bank digital currency, or CBDC, wallet holders. This comes on the back of a similar lottery held in the city of Suzhou, one of China’s major “special economic zones.” Suzhou has already engaged with several blockchain projects in an effort to deepen the municipality’s understanding and use of decentralized technology, smart contracts and the general learning curve the local population may face.
Continue Reading on Coin Telegraph
