8.8 million yuan, or roughly $1.3 million — that’s the amount spent by people in the Chinese city of Shenzhen as part of a week-long trial involving China’s as-yet-to-be-launched digital currency.
The figure, reported by the South China Morning Post, is the latest data point to emerge from the slow-rolling roll-out of the digital yuan.
Citing information from the city government, SCMP reported that some 1.9 applications sought to take part in the week-long trial. In the end, “over 47,000 consumers” participated, receiving packets of about 200 digital yuan and conducting about 62,000 transactions.
China’s central bank has overseen DCEP pilots to date involving, as of earlier this month, more than 1 billion yuan in transactions, as previously reported.
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Week-long DCEP trial sees Shenzhen consumers spend 8.8 million in digital yuan written by Michael McSweeney @ https://www.theblockcrypto.com/linked/81753/dcep-china-shenzhen-digital-yuan?utm_source=rss&utm_medium=rss October 20, 2020 Michael McSweeney