Tag: society

13
Oct
2020
Posted in technology

China hands out $1.5m of digital currency in cashless society trial

  • 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.
  • Visit Business Insider’s homepage for more stories.

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.

FILE PHOTO:  A woman wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee/File Photo/File Photo

A pedestrian walks past the headquarters of the People’s Bank of China in Beijing on February 3, 2020. The PBoC is in charge of issuing the digital currency.

Reuters


So far, around 113,300 such digital currency apps — or “digital currency wallets” — have been set up in various pilot programs across China,

11
Oct
2020
Posted in internet

Brunswick Area Historical Society fundraiser is anything but ‘old school’

BRUNSWICK, Ohio — As the summer harvest began to wane at the Brunswick Farmers Market, some new ideas cropped up to help the nonprofit Brunswick Area Historical Society in its efforts to raise funds for its nearly completed “old school” building.

With large-crowd fundraisers stymied by COVID-19, and even many of the usual summer activities curtailed this year, fundraising was painfully slow.

That’s when a new vendor at the markets this year, Stacey Asvestas, stepped in to see if she could help.

Once she heard that the historical society needed to raise money for the building that will house 200 years of Brunswick school artifacts, she jumped into action.

Actually, she skated into action.

Asvestas roller-skated around Heritage Farm from her vendor’s spot this summer, so she skated to each of the vendors at the market and asked if they would contribute to an auction. Because the market season was almost over, she suggested an online auction.

Then, she worked with Ken Chamers, the historical society’s internet guru, to start the auction of items donated by the many vendors and other members of the community.

The first one-week auction started on Monday, Oct. 5 — the day following the last farmers market. The hope is to take the auctions through to the Christmas shopping season — and maybe beyond, she said.

Although Asvestas is new to the farmers market, she is no stranger to the area; she grew up in Valley City and is a Buckeye High School graduate. She is the mother of three and has two grandchildren.

While her children were young, she bought and sold classic cars. She also worked part-time at Miss Molly’s Tea Room in Medina for 15 years. She then formed a 501c(3) nonprofit organization.

“It’s a musical ministry — helping at-risk young people