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Home Latest News Blockchain Suzhou will launch digital yuan 'red envelope' trial for Double 12 event

Suzhou will launch digital yuan ‘red envelope’ trial for Double 12 event

The Chinese city of Suzhou will be the second to roll out a “red envelope” trial for the upcoming digital yuan, according to a report in local media outlet The Paper.

According to cointelegraph, following the successful pilot scheme run in the city of Shenzhen past month, insiders say that the Suzhou district of Xiangcheng will be launching the giveaway to coincide with the country’s Double 12 shopping event on Dec. 12.

A lot of businesses in the district have reportedly already installed near-field communication QR codes in the expectation of the trial.

The last Shenzhen trial saw a total of 10 million digital yuan distributed to 50,000 winners of red envelopes in a lottery format draw.

The Suzhou rollout will include this functionality, allowing users to shift money directly by touching mobile devices, even when neither are connected to a network.

Double 12 is a shopping festival run by e-commerce giant Alibaba, the month after its much-hyped “Singles Day” event. It focuses a great deal of attention on offline spending and smaller brands.

There is also presently a closed beta trial of the digital yuan in the city of Chengdu, and the 2022 Winter Olympics venue will reportedly take part in a closed pilot scheme.

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