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.
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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

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China hands out $1.5 million of its digital currency in one of the country’s biggest public tests

  • 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.



a close up of Mao Zedong holding a piece of paper: A Chinese clerk counts renminbi yuan banknotes at a bank in China on December 2015.


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A Chinese clerk counts renminbi yuan banknotes at a bank in China on December 2015.

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.

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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

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Google Pixel 4a 5G unboxing and hands on: The Goldilocks Pixel?

Google Pixel 4a 5G in hand front of phone 2

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.

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Qualcomm to launch its own smartphone soon, joins hands with Asus



a hand holding a cell phone


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Chipmaker Qualcomm is likely to launch its own gaming smartphone sometime soon. The company is set to unveil its new high-end processor Snapdragon 875 later this year in December and is likely to launch its first smartphone around the same time. Qualcomm has reportedly joined hands with Asus, known for making gaming specific smartphones, for the device.  

Qualcomm will soon host an online event in December and launch its high-end processor for this year — the Qualcomm Snapdragon 875 mobile platform. On the same day, it can unveil its first-ever gaming smartphone, manufactured in partnership with Taiwanese company Asus. 

In this partnership, Asus will add its hardware expertise, bringing in a high refresh rate, improved cooling system, a big battery, and a number of gaming-centric features on the Qualcomm smartphone.  

Of course, the phone could also be powered by the upcoming Snapdragon 875 processor, making

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Crypto For Congress Puts “American-Made” Bitcoin Into The Hands Of Policymakers

This week, the Chamber of Digital Commerce PAC sent all 535 members of the United States Congress about 0.0047 BTC ($50 worth at the time), in an effort to educate the country’s legislators around cryptocurrency and blockchain technology that it calls Crypto For Congress.

Leveraging Federal Election Commission rules that allow for cryptocurrency-based campaign contributions and its own Political Action Committee to make the BTC donations, the Chamber of Digital Commerce ultimately hopes to motivate these lawmakers to embrace the advantages presented by blockchain technology.

“Our industry faces a number of regulatory challenges and it’s important for our government officials to have a working knowledge of how this technology works,” Perianne Boring, founder and president of the Chamber of Digital Commerce, told Bitcoin Magazine. “If you look at tax laws, securities laws, if you look at compliance obligations, there are a lot of examples of regulators and policymakers who

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