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China's Digital Lottery In-Process !!! .....

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planetaryfuture   Tuesday, 10/13/20 10:17:04 AM
Re: planetaryfuture post# 21606
Post # of 21651 
China's Digital Lottery In-Process !!! .....

It seems like China's digital currency strategy will likely push America to act sooner ..... rather than later ..... since all global economies compete for the position of "top-standing" .....

Obviously ..... just my speculative opinion !!!

And of course ..... November 3 is merely three weeks away .....

I still wait to understand the precise details of the Fed's future-looking monetary policy ..... relative to whatever is going to happen to financially stressed-out American's with the digital currency strategy .....

One major question remains : Is the Federal Reserve still clinging to a fiscal model which produces consequences propping-up conditions resembling "eternal slavery ?" ..... The People have a good reason to expect a CLEAR answer !!! .....

Nearly 2 Million Sign Up For China’s Digital Yuan ‘Lottery’

October 13, 2020 .....

by Sebastian Sinclair

Almost two million people living in the Chinese city of Shenzhen signed up for a 10 million (US$1.48 million) digital yuan giveaway over the

According to reports by AsiaOne, of the 1.91 million residents that put their hands up for the latest test of China’s sovereign digital currency, only 2.3% of applicants won their free money.

Around 50,000 digital "red envelopes," reminiscent of the traditional gifts doled out in China for special occasions and each containing 200 digital yuan ($29.60), were handed out Monday.

The free digital currency is destined to be spent at 3,389 stores set up to handle the electronic means of payment as part of China's latest test, and promotion, of its national digital currency.

The Digital Currency Electronic Payment (DCEP), as it is known, has been given no definitive timeline for its launch but giveaway in Shenzhen may signify efforts by China's central bank to ratchet up its plans.
One obstacle for obtaining the nation's digital yuan requires users to open a digital wallet which has raised concerns over how children and the elderly can participate.

As cited in AsiaOne's report, an unidentified user said the digital currency was a "litmus test" for the "new economy" with the potential to unseat the U.S. dollar’s role as the dominant global currency.

See also: Chinese Ex-Banker Says Digital Currency Should Replace Fiat Money


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