Renowned Chinese institutions Meituan, Didi and Bilibili are the latest to join a trial run of central bank’s digital currency. The news was confirmed by CLS, which is a local news source.
The report declares that any successful applicant of the Suzhou lottery trial will be permitted to use their digital earnings online. The winners would have access to spend their yuan winnings through Didi’s taxi service, Bilibili’s video-sharing website, and Meituan’s bike-sharing programme.
China is fast-forwarding its aim towards the implementation of a digital currency as the People’s Bank of China rallies commercial entities and fellow banks to gauge user experience. This lottery is a successor of the one held in Shenzhen in October.
An e-commerce organization, JD.com, is stated to be taking part in the Suzhou trial and it will permit the winners to spend their wins on an online mall.
Their most recent giveaway to be held December 12, will see over 10,000 applications from residents in the city apply for 200 yuan digital wins. The winners will be able to spend on physical stores that offer the right point-of-sale technology, and online through leading Chinese companies. The trial was set to focus on physical stores. Information presented by the CLS report shows that six banks will participate in the Suzhou trial.