Over the weekend, the Beijing authorities announced that they will provide about $ 1.5 million in limited trial testing of the new digital currency of the Central Bank of the People’s Republic of China.
This is the third stage of testing the digital currency being developed by the People’s Bank of China. In the past few months, similar experiments have been carried out in the cities of Shenzhen and Suzhou.
During this test, Beijing announced that it will select 50,000 from among those willing to take part in the test. They will receive 200 RMB or about $ 30 each in digital currency. Users will be able to spend this money in specific locations or sections of the JD.com e-commerce site during the upcoming Chinese holidays.
Vouchers will be valid from 10 to 17 February. Only those with a Chinese identification number or residence permit in Hong Kong, Macau or Taiwan are eligible to participate in the test.
Unlike other cryptocurrencies like Bitcoin, the new currency being developed by the People’s Bank of China is controlled by the government, not a decentralized system run by users around the world.
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