According to a report published on October 19, China’s CBDC lottery has seen near total usage as of October 18, as its central bank digital currency (CBDC) program begins to look increasingly successful.
- China airdropped a total of $1.5 million worth of the Digital Yuan to citizens in the first week of October
- The CBDC was usable at grocery stores, pharmacies and stores like Walmart in Shenzhen’s Luzhou district
- Authorities announced that 47,573 out of 50,000 randomly selected winners had spent the currency, with with a total of 62,788 transactions taking place
- $1.3 million of the $1.5 million had been spent, with an additional 931,000 ($134,000) digital yuan bought by some users
- China is leading the race to launch a CBDC, though several countries, including Japan and Estonia, are also looking into pilot programs