China Schedules the Digital Yuan’s Second Lottery in the Double 12 Shopping

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According to the local news publication, The Paper, Suzhou China is set to host the second lottery for the Chinese CBDC or Digital Yuan in the upcoming “Double 12” shopping event this December 12th. This particular second lottery, or “red envelope” trial, for the highly-awaited digital yuan, aims to gauge its overall usability on top of adding extra functionalities.

Reports indicate that the trial will mirror the first one held in Shenzhen this past October. The first trial notably enabled the city’s residents to apply for a precise 200-yuan share from the 10 million or so digital yuan units processed for the trial in what resembles a lottery. All in all, 50,000 winning participants were drawn as the first trial purportedly cost $1.5 million in total.

That being said, the Shenzhen lottery trial felt lacking for some people. This is reportedly because they were unable to utilize some of panda wallet’s features, precisely the “offline” or “touch” digital wallet functionalities. The second lottery in Suzhou aims to correct this – explicitly stating that the rollout will include said functionalities. This will then allow users to comfortably transfer money through their mobile phones even without an internet connection.

The Paper’s report then emphasized that several businesses in the area have already installed close-proximity communication QR codes for their products in preparation for the upcoming trial. Perhaps aiming to capitalize on the digital yuan winnings people will get on the upcoming event.

Lastly, the report notes that at the same time, a closed beta trial for the same CBDC will be held in Chengdu, wherein participants will be may use digital wallets for transactions through a prominent undisclosed bank.

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