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China’s Suzhou Offers $3Million Lottery In Digital Yuan

China's Suzhou Offers $3Million Lottery In Digital Yuan

Who doesn’t likes to win a lottery? What if it comes with a price tag of $3 million. Yes, you heard it right. The city of Suzhou in China is offering $3 million lotteries in Digital Yuan. It is understood that the decision to offer the sum in the lottery has been considered as a wider trial for Digital Yuan.

The announcement was made by Suzhou government in a blog post on Friday. The post mentioned that Suzhou will give away 20 million yuan or around $3 million in form of China’s central bank digital currency which is known as DC/EP.

Furthermore, it is also understood that the one who wins it all will collect the digital currency in form of 100,000 red packets. The lottery, however, is only valid to the residents in Suzhou. Every red packet will come with 200 Yuan or around $30.

The government mentioned that the registration date for the lottery will be between December 5 and 6 with the result set to be announced on 11th of the same month. Incidentally, December 11 also marks one day before annual Double 12 online shopping festival in the country.

There has also been a date allocated for the winner to use the Digital Yuan which will be between December 11 to 27. The winner will not be able to spent the Digital Yuan anytime after that.

The government will also invite the users to test the option for offline payment.

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