A Chinese city is handing out $1.5 million in digital ‘red envelopes’ to lottery winners to trial a cashless society



a view of a city with tall buildings in the background: Futian district in Shenzhen, China. A different district, Luhou, took part in the digital currency pilot. Prisma by Dukas/Universal Images Group via Getty Images


© Provided by Business Insider
Futian district in Shenzhen, China. A different district, Luhou, took part in the digital currency pilot. Prisma by Dukas/Universal Images Group via Getty Images

  • 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.
  • Visit Business Insider’s homepage for more stories.

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.

Read More

SECAF Announces 12th Annual Government Contractor Award Winners

GovCon Community Comes Together Virtually to Mark Excellence and Celebrate Success

The Small and Emerging Contractors Advisory Forum (SECAF) is pleased to announce the winners of the 12th Annual Government Contractor Awards. Last night hundreds of people representing government contracting firms and leading industry professionals gathered virtually as the 2020 winners were named. More than 40 regional business leaders chose this year’s finalists from an exemplary group of applicants. Award winners were then selected by a distinguished group of judges, including Shiv Krishnan (CEO, KOOLROX and Founder of INDUS Corp), Kevin Robbins (Co-Founder of Blue Delta Capital Partners and Co-Founder of Wolf Den Associates), Peter Schulte (Principal, CM Equity), and Eric Wolking (Operating Partners, Bluestone Investment Partners). The Event Chairs were Scott Brezler (Managing Partner – Government Contracting Industry Group, DHG), Cameron Hamilton (Managing Director, FON Corporate Finance), and Adam Nalls (Senior Vice President, Atlantic Union Bank).

The Government

Read More

Announcing the 2020 British Ecological Society award winners

IMAGE

IMAGE: Top row left-to-right: Mike Begon, Sandra Lavorel, Michel Loreau, Teja Tscharntke, Wendy Foden, David Odee.
Bottom row left-to-right: Tommaso Jucker, Juliet Vickery, Helen Roy, Iain Stott, Kimberly A. With….
view more 

Credit: British Ecological Society

The British Ecological Society (BES) announced today the winners of its annual awards and prizes, recognising eleven distinguished ecologists whose work has benefited the scientific community and society in general.

This year, honorary membership, the highest honour given by the society, has been awarded to three distinguished ecologists: Mike Begon, Sandra Lavorel and Michel Loreau. While this year’s BES award recognises Juliet Vickery, whose work leading the scientific team at RSPB underpins the work of the organisation in conserving threatened sites, species and habitats throughout the world.

Helen Roy, current president of the Royal Entomological Society, is also recognised with the Ecological Engagement Award for her active work in citizen science and her role

Read More