China Distributes Digital Money!
China Distributes Digital Money! China has distributed digital Yuan worth 1.5 million dollars to its people. A lottery was made to be used in local stores and distributed 10 million Yuan, 1.5 million dollars, to the public. China has commissioned one of the largest digital currency facilities worldwide, with the goal of a cashless future. Around 2 million people applied, and 50,000 of them won awards. Digital currency distribution was carried out by drawing.
Winners can get their digital yuan by installing the “Renminbi” application. They can shop using these digital coins from 3000 stores located in the South of China. The giant technology center located in the South of China also hosts technology giant names such as Shenzhen, Huawei, and Tencent. Apart from local markets and pharmacies, there are also chain businesses in this event. Digital Yuan is never a cryptocurrency. Digital Yuan is produced and controlled by the Bank of China. Digital Yuan is expected to work with Alipay and WeChat Pay. The difference between Bitcoin and Digital Yuan is that Bitcoin is not managed by anyone and distributed by central banks. Digital Yuan is distributed and controlled by the Bank of China.