Category Archives: China

China is making giant strides on its cryptocurrency – $ 3 million up for grabs and (more) a huge lottery ahead

The world’s number one asset management company now allows two of its funds to purchase bitcoin derivatives. This first foray into cryptoassets follows the change in tone of BlackRock, now more accommodating towards these highly speculative assets. In Europe, regulators remain vigilant with regard to these products.

Never 2 without 3 – Far ahead of the rest of the world, China continues to test its MNBC. In addition, the city of Shenzhen is preparing to host a giant new lottery to democratize the crypto-yuan.

A new lottery for Shenzhen

China has been working on creating a Central Bank Digital Currency (MNBC) for several years now. Following a series of life-size tests carried out in 5 cities across the country, the country is now trying to democratize its crypto-yuan.

However, since November 2020, the pilot city of Shenzhen has organized 2 giant lotteries, during which residents had the opportunity to win 200 crypto-yuan. The goal was simple: distribute it for free to promote adoption of MNBC.

With two successful editions in November 2020 and early January 2021, the city will therefore put the cover back.

This time around, it’s a lottery totaling $ 3 million in prize money. Each winner will pocket a “red envelope” containing 200 crypto-yuan.

Obviously, Shenzhen is not the only one to have carried out this type of project. Eh yes ! The city of Suzhou did the same last December with the same success. Certainly, the 4 corners of China are in great shape.