Chinese Online Delivery Giant Meituan to Begin Digital Yuan Trials With Free Airdrop

By Palak Malhotra
Published September 9, 2021 Updated September 9, 2021
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Chinese Online Delivery Giant Meituan to Begin Digital Yuan Trials With Free Airdrop

By Palak Malhotra
Published September 9, 2021 Updated September 9, 2021

Today onwards, Meituan will start airdropping Digital Yuan “red packets” worth 10 yuan ($1.55), to promote low-carbon travel. According to the Chinese financial news site, cnstock.com, starting today, till December 31, the Meituan app users are eligible for receiving free airdrops.

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The Digital Yuan red packet can be acquired through a simple keyword search on the Meituan app, along with the process of registration. The money can be further utilized for the platform’s bike-sharing service payments. Additionally, the red packet allows multiple procurements upon continuous usage of Meituan’s services.

Digital Yuan to promote nation’s carbon neutrality aim

This Digital Yuan Red packets’ trail to enable to use of CBDCs is a collaborative effort of, Meituan, Agricultural Bank of China, China Postal Savings Bank, and China Construction Bank for residents in nine regions, including Beijing, Shanghai, the Xiongan New Area, etc. These regions will be able to earn Digital Yuan along with promoting the nation’s carbon neutrality aim by enabling the first step, i.e., integrating the use of low-carbon travel in daily life.

“Our vision is to use low-carbon travel as a breakthrough and take advantage of the unique technology of digital yuan to incorporate the concept of the nation’s carbon neutrality goal to users’ daily life so that users can experience the convenience of consuming with digital yuan while enhancing their awareness of and participation in carbon emission reduction,” cnstock.com reported, citing a senior employee at Meituan.

Digital Yuan to Centralize Virtual transactions in China

China’s focus on implementing its CBDC has multiplied since its announcement of winding up the nationwide crypto crackdown. With its Digital Yuan, China aims to reduce the dependency on U.S. Dollar, along with dominating the global digital money markets. Especially now, after its latest victorious declaration about the completion of the nationwide virtual currency transactions crackdown. The Chinese government appears nearing its goals of centralizing the digital money sphere in the nation.

“Online asset management, equity crowdfunding, Internet insurance, virtual currency trading, internet foreign exchange trading, and fields have basically completed the rectification work and have been transferred to normalized supervision.”, stated the People’s Bank of China.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Palak Malhotra
222 Articles
Journalism & Mass Comm. ‘21 graduate, Palak is a GenZ journalist with background in Lifestyle journalism & PR. At CoinGape, Palak is a junior crypto journalist preparing for Web 3.0

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