Shenzhen, known for its maker community and manufacturing resources, is taking the lead in trialing China’s digital yuan.
Last week, the city issued 10 million yuan worth of digital currency to 50,000 randomly selected residents who applied. The government doled out the money through mobile “red envelopes,” a tool designed to digitize the custom of gifting money in red packets and first popularized by WeChat’s e-wallet.
“Red packets are a common way we’ve seen in China Internet companies to spur adoption like what we’ve seen with Tencent WeChat and Alibaba’s Alipay in the early days, when these products were first launched,” Flex Yang, CEO of crypto finance firm Babel Finance, told TechCrunch.
The digital yuan is not to be mistaken as a form of cryptocurrency. Rather, it is issued and managed by the central bank, serving as the statutory, digital version of China’s physical currency and giving Beijing a better
Timing the leap from cutting-edge to LPTA technology
By Dave McCarty
Oct 02, 2020
Technology changes fast. So fast that often what was considered leading edge even five years ago is today already a commodity. The rapid evolution from best value to commoditization is a key driver behind the lowest price technically acceptable (LPTA) evaluation policy that governs many federal IT purchases.
Solid state and flash drives are a good example. Formerly expensive and selectively used, they are now cheap and ubiquitous. Converged architecture — combining networking, compute and storage into a ready-built blueprint — is an example of more complex systems evolving toward a simplified “single SKU” offering. At first bug-prone and difficult to scalable, converged architectures are now stable, mature and easily integrated into agency IT environments.
So what evolving and emerging technologies should we expect to make the LPTA leap in the next few