- Authorities in Shenzhen, southern China, have handed out $1.5 million of a new digital currency as part of a trial of a cashless society.
- Last Friday authorities gave 50,000 lottery winners the equivalent of $30 each to spend digitally by October 16, the state-run China Daily reported Monday.
- The digital currency is not like a cryptocurrency, and is issued and controlled by China’s central bank, the People’s Bank of China.
- The PBoC said it plans to formally launch the digital payment system in late 2020, according to the BBC.
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A Chinese city has handed out 10 million yuan, or $1.5 million, in digital currency to trial what citizens would do in a cashless society.
On Friday, 50,000 people living in the Luhou district of Shenzhen were given digital “red envelopes,” each containing around 200 yuan ($30) worth of the digital currency, the state-run China Daily reported Monday.
The digital currency not a cryptocurrency, like bitcoin or ethereum, but a digitized version of the country’s renminbi currency that is run by China’s central bank, the People’s Bank of China.
The country’s four largest state-owned banks are taking part in the Shenzhen trial, China Daily reported.
The trial requires people to download the government’s digital currency app and spend their money between October 12 and October 16 in 3,000 participating stores in the district, CNBC and China Daily reported. One of those participating stores is Walmart, CNBC reported, citing the Shenzhen government.
So far, around 113,300 such digital currency apps — or “digital currency wallets” — have been set up in various pilot programs across China,
- Last week, the government in Shenzhen carried out a lottery to give away a total of 10 million yuan (about $1.5 million) worth of the digital currency.
- The winners can now download a digital renminbi app to receive the digital yuan and spend it at over 3,000 merchants in a particular district of Shenzhen.
- The digital yuan is not a cryptocurrency like bitcoin. Instead, it is issued and controlled by the People’s Bank of China, the country’s central bank.
GUANGZHOU, China — China has started one of the biggest real-world trials for its digital currency as it pushes closer toward creating a cashless future.
Last week, the government in Shenzhen carried out a lottery to give away a total of 10 million yuan (about $1.5 million) worth of the digital currency. Nearly 2 million people applied and 50,000 people actually won.
The winners can now download a digital renminbi app to receive the digital yuan and spend it at over 3,000 merchants in a particular district of Shenzhen. The south China technology hub is home to some of the country’s biggest tech giants including Huawei and Tencent.
Local supermarkets and pharmacies are among the participating merchants as well as Walmart, according to a post by the Shenzhen government messaging app WeChat.
China has been pushing toward a cashless society.
The digital yuan is not a cryptocurrency like bitcoin. Instead, it is issued and controlled by the People’s Bank of China, the country’s central bank. It is not looking to replace digital wallets like Alipay or WeChat Pay. It will likely work together with them and other banks.
In comparison, Bitcoin is decentralized, which means it’s not owned and controlled
Now that the Pixel 4a 5G and Pixel 5 are official, we’ve got three different Pixels to choose from this year. There’s the Pixel 4a, which costs a cool $349, the 4a 5G, which adds some faster networking, a faster processor, and an extra camera for $499, and the Pixel 5, which adds a premium build, wireless charging, a 90Hz display, water resistance, and a bigger battery, for $699.
Between those three, the 4a 5G seems like the middle ground a lot of people are looking for. It has the biggest display of the three at 6.2-inches, the wide-angle camera everyone wanted last year, and a chip that’s perfectly future-proof with 5G connectivity. While it still lacks the extras like wireless charging and a 90Hz display sported on the Pixel 5, a lot of people won’t care about those things, and just want something that works for a good price.
Lucky for you guys, we’ve just got a 4a 5G in our hands. Let’s take a look, shall we?
See also: Google Pixel 5 vs Pixel 4a 5G vs Pixel 4a: Which should you buy?
What’s in the box?
Inside the box for the Pixel 4a 5G, you’ll find the phone, alongside a quick start guide, an 18W power brick, a power cable, and a female USB-A to male USB-C adapter. This is pretty much the standard fare for Pixels these days, though some might be a bit bummed when other devices often come with extras like headphones.
We should note that while 18W is fine for charging speed, it’s beginning to lag behind compared to other devices. Even budget devices like the OnePlus Nord commonly see 25W, 30W or more, and it would be nice to see Google move to faster charging soon. Still, the fairly large 3,885mAh battery