Another CryptoYuan testing in Suzhou

The Suzhou authorities in China introduced the next round of Crypto Yuan testing. In total, about $ 5 million will be distributed among citizens. According to financial experts will now check the end-to-end infrastructure for future Crypto Yuan transactions.
This year, 150 thousand Suzhou residents will be involved in testing a new crypto asset. Between them, a drawing of the so-called “red envelopes” will be held, with the help of which funds in cryptocurrency are distributed. Citizens will be able to spend the money received on JD.com and in some shops in the city. Their full list will be made public immediately before the distribution of assets.
In December last year, the Suzhou authorities have already distributed about $ 1.5 million in crypto assets. Then the possibility of making cross-border payments was checked. For this purpose, the specialists launched two separate networks in Suzhou and Shenzhen. This event was the first large-scale distribution of the Crypto Yuan among the population.
Shenzhen conducted another massive experiment in January with the first DCEP. Residents of the city received approximately $ 3.1 million in the “red envelope” lottery. Also, the verification of the sovereign asset took place in Chengdu, but the distribution amount then amounted to about $ 5 million. Beijing and Shanghai have announced plans to support the DCEP experiment, but have not yet decided on a timeline for the lottery.