Chinese New Year Will See More Digital Red Envelopes Than Before
The future for mobile peer-to-peer payments is looking bright right now. Although the rest of the celebrated New Year some time ago, the Chinese New Year celebrations commence this weekend. Millions of people will exchange cash-filled red envelopes throughout the country. This tradition is rather old, but it is undergoing some significant changes. With most envelopes being exchanged digitally, Bitcoin opportunities arise all over the country. It is expected the vast majority of red envelopes will be exchanged in digital format this year. Popular messaging systems such as WeChat, will be....
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Updated with comment from OKCoin regarding the analysis of the campaign. Notably, the campaign saw around half a million new accounts being opened, according to the exchange. The company said: "The campaign lasted for roughly a week, with a consistent engagement from the domestic market. OKCoin's red envelopes gave away a total of 10 million RMB, making this the largest initiative on Chinese soil." The digital-only giveaway, which stems from the Chinese tradition of exchanging red envelopes containing money, was conducted through the WeChat messaging app account of the exchange's OKLink....
Bitcoin price surpassed the $1,000 margin in major Chinese and South Korean Bitcoin exchanges including Huobi and Korbit on Feb. 1, after the celebration of the God of Wealth and Chinese New Year. On Jan. 28, China and South Korea celebrated the Lunar New Year. In this time of the year, capital outflow significantly increases as Chinese and Korean people send red envelopes to relatives and friends as a cultural ceremony. Red envelopes contain cash and are usually given from the old to the young member of a family. On every fifth day of the first month of the Chinese lunar calendar, the....
The Melbourne Bitcoin Technology Centre (MBTC) has partnered with the Bitcoin Group to give away the digital currency in Melbourne's Chinatown precinct. The "lucky money" envelopes containing a bitcoin paper wallet were handed out to passers by and merchants to mark the Chinese New Year. Pantelis Roussakis, communications manager at MBTC, said: "During the Chinese New Year celebrations people wear red clothes, exchange decorative poems on red paper and give out 'lucky money' in red envelopes. Today amidst the New Year festivities in Melbourne's bustling Chinatown, we hit the streets,....
China's relationship with bitcoin has seriously been on the rocks these past few weeks. Between the MyCoin scandal that saw over $8 million in bitcoins disappear, to the latest cyberattack on BTER that resulted in over 7,100 stolen bitcoins, to the voice of lawmakers calling for a full-on ban on the digital currency, things just aren't what they could be. However, we've all heard the old saying "New year, new start," and with the celebration of the Chinese New Year, Beijing-based bitcoin exchange OKCoin has emerged from the shadows and given away a whopping one-and-a-half million dollars....
China, which has the world’s most advanced digital currency initiative, has distributed more than $40 million in red envelopes containing digital yuan thus far. The CBDC’s promotional effort is now focusing on five main cities, with regional development priorities in mind. Digital Yuan Begins Red Envelope Project The experimental implementation of the digital RMB, the […]