{"id":70492,"date":"2022-11-23T14:11:43","date_gmt":"2022-11-23T12:11:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70492"},"modified":"2025-09-08T02:35:26","modified_gmt":"2025-09-07T23:35:26","slug":"shanghai-to-distribute-digital-yuan-via-red-envelope-lottery","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/shanghai-to-distribute-digital-yuan-via-red-envelope-lottery\/","title":{"rendered":"Shanghai to distribute digital yuan via red-envelope lottery"},"content":{"rendered":"<p>Shanghai authorities will distribute the national digital currency (e-CNY) to seven million residents through a red-envelope lottery awarding 108 yuan to each participant (~$15). This was reported by <a href=\"https:\/\/cryptonews.com\/news\/shanghai-readies-new-digital-yuan-giveaway.htm\">Cryptonews<\/a>, citing local media.<\/p>\n<p>Residents could apply to participate in the draw until November 21. Distribution will begin on the 24th.<\/p>\n<p>This time, the People\\&#8217;s Bank of China (PBoC) changed the terms of the digital yuan giveaway, inviting participants to download a <a href=\"https:\/\/u1f987.com\/en\/news\/media-app-store-and-google-play-add-mobile-wallet-for-the-digital-yuan\">mobile wallet<\/a> compatible with e-CNY to speed up adoption.<\/p>\n<p>The national digital currency is not yet launched nationwide; testing is underway in several financial hubs such as Beijing, <a href=\"https:\/\/u1f987.com\/en\/news\/beijing-and-shanghai-plan-large-scale-testing-of-the-digital-yuan\">Shanghai<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/shenzhen-to-distribute-red-envelopes-as-part-of-digital-yuan-testing\">Shenzhen<\/a> and others.<\/p>\n<p>Unlike pilots run in partnership with e-commerce platforms, <a href=\"https:\/\/u1f987.com\/en\/news\/digital-yuan-payments-top-20000-jd-com-purchases-in-24-hours\">such as JD.com<\/a>, in the new test citizens will be able to spend the asset at their discretion.<\/p>\n<p>PBoC partners in Shanghai include online shops, local retail networks, entertainment centres and travel firms. A number of foreign brands will participate in the pilot, including Disney, McDonald\u2019s, Starbucks and Carrefour.<\/p>\n<p>In April the PBoC <a href=\"https:\/\/u1f987.com\/en\/news\/china-to-expand-digital-yuan-testing-program\">announced an expansion<\/a> of the digital yuan testing programme.<\/p>\n<p>According to the regulator, the cumulative value of e-CNY transactions by the end of summer reached 100.04 billion yuan (~$14 billion).<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shanghai authorities will distribute the national digital currency (e-CNY) to seven million residents through a red-envelope lottery awarding 108 yuan to each participant (~$15). This was reported by Cryptonews, citing local media.<\/p>\n","protected":false},"author":1,"featured_media":70493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1369],"class_list":["post-70492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70492"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70492\/revisions"}],"predecessor-version":[{"id":70494,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70492\/revisions\/70494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70493"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}