China Launches Smart Contract Functionality on Digital Yuan Through E-Commerce App Meituan

China Launches Smart Contract Functionality on Digital Yuan Through E-Commerce App Meituan


The smart contracts used by Meituan are used to divide up a daily prize of 8,888 RMB ($1,312), according to local media outlet 8btc, which is focused on cryptocurrency and Web3 reports, and other mainstream internet media outlets in China. When a user places an order with the app and pays with the digital yuan, the smart contract is triggered and looks for certain keywords in the list of goods purchased and the merchant name. If a user happens to have some of these keywords, which change daily, the smart contract will allocate a portion of the 8,888 RMB to their digital yuan wallet.

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