Based on data acquired from local news outlet Sohu.com, the Shenzhen Chamber of Commerce has recorded over 2.six million signups because of its latest digital yuan, or e-CNY, airdrop. Two several weeks prior, the town of Shenzhen announced that it might be airdropping $ 30 million from the e-CNY central bank digital currency, or CBDC, to local residents to stimulate consumer spending like a recovery measure towards the country’s strict coronavirus lockdown.
Users who received the airdrops via a randomized lottery selection could then spend the e-CNY vouchers at various participating merchants’ terminals on Meituan, certainly one of China’s leading e-commerce platforms. The big event, which ran from May 30 to June 19, attracted greater than 67,000 retailers.
Similarly, on Wednesday, Fuzhou announced that it might be airdropping 20 million e-CNY to local residents. Users who undergone Know Your Customer identification and also have a local number could then log to the “e-Fuzhou” city application and enter a lottery draw for 100 e-CNY per airdrop. The airdropped digital yuan is dispensable in excess of 9,000 retailers round the city.
China’s CBDC efforts have acquired momentum forever of the season, using the country’s central bank intending to expand the amount of e-CNY test sites to 23, up from 11. In Tianjin, it’s now possible to get financing denominated in e-CNY in addition to purchase metro tickets using digital currency. Between April 2, once the e-CNY was brought to Tianjin, and Sunday, local residents made roughly 1.86 million e-CNY transactions, amounting to 290 million CNY across near to 39,000 vendors.
