A Singapore team has come up with the ‘world’s first blockchain-based’ hongbao – and it could change Chinese New Year

On Feb 14, a Singapore-based team callled CaiShen launched what’s touted as the “world’s first blockchain-based” smart red packets , which could change how red packets are doled out during Chinese New Year.

In a statement, CaiShen said that its red packets use smart contracts on the Ethereum blockchain.