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Experts highlight numerous advantages that digital hongbao brings to the table. Firstly, it offers unmatched convenience—no more long queues to exchange old banknotes or hours spent packing red packets. Digital hongbao simplifies these processes, making it easier for users to send money instantly from their smartphones.
Moreover, digital hongbao is also environmentally friendly. Traditional red packets and the physical notes they contain contribute to significant waste, with about 40% of the 100 million new notes printed annually being incinerated after the celebrations when people deposit their money back into banks. Going digital reduces paper waste and lowers the environmental footprint associated with the festivities.