Chinese testing for its digital currency is underway with Meituan, China’s biggest e-commerce platform provider. To encourage low-carbon travel, Meituan will begin airdropping digital currency “red packages” worth 10 yuan or $1.55.
The e-commerce business will begin the airdrop for its clients today and will continue until December 31.
According to sources, the red packet may be obtained using the Meituan app as part of the registration procedure. The amount distributed through the airdrop may also be used to pay for the platform’s bike-sharing services.
In the second quarter of 2021, Meituan was China’s leading e-commerce platform. Its revenues rose by 77%, from RMB 24.7 billion to RMB 43.8 billion.
It is worth noting that the usage of digital yuan has been promoted as being ecologically beneficial. Indeed, tremendous efforts have been made to advertise it as a carbon-neutral product.
Meituan, Agricultural Bank of China, China Postal Savings Bank, and China Construction Bank collaborated on the digital yuan red packages program available to people in nine areas. Among these areas are Beijing, Shanghai, and the Xiongan New Area.
By incorporating low-carbon transport into daily life, these areas will earn digital yuan while also promoting the nation’s carbon neutrality.
With virtual money now under control and regulated, China is getting closer to its aim of totally centralizing its digital economy.