- China is now using blockchain technology to improve tourism in its Hainan province.
- Hainan develops to become an attractive tourist destination for international visitors.
- China is also leading the CBDC arms race with a 10 million digital yuan giveaway.
According to Economic Information Daily, China’s Hainan province is now using blockchain technology to help boost tourism in the region, however working along the blockchain free trade zone project.
The article explained that “to accelerate” the development of the blockchain-based system used for Hainan, they will “steadily promote the construction of Hainan tourism consumption points based on blockchain technology.“
Hainan to Boost International Tourism With Blockchain
Hainan province developed its tourism industry. Central authorities’ key decision turned the island into an international tourist place. Moreover, authorities will allow travelers to use a single, unified blockchain platform when going to their favorite destination.
Blockchain points are created for tourists, allowing visitors to pay for hotel accommodation, public transportation, restaurants, cafes, bars, shopping, and entry to tourist attractions.
The said region will use blockchain for the construction of the Hainan Free Trade Port. Not to mention the further development of the international tourism industry. Additionally, the province expects that its blockchain-based infrastructure will help all aspects of the tourism industry to better promote their products and services.
Chain++ blockchain digital platform in-charge Song Yijian introduced the platform to the Hainan project as well as other new measures for comprehensive, diverse, and convenient travel to the region.
China Piloting CBDC Use
Meanwhile, the country also started piloting the use of its central bank digital currency (CBDC) — the digital yuan. In fact, the country is giving away 10 million digital yuans to the citizens. This will be specifically done in the city of Shenzhen through the official Digital Renminbi app.
Each person in the said city has a chance to receive 200 digital yuans through a digital red envelope. This is the country’s traditional way of giving money to people as gifts.