Not surprising, what the central bank has to offer is simply digital fiat money under their central control. They are basically replicating PayPal as a national service. Innovation: Zero, just as the government loves it.
Topic: China central bank to release digital currency prototype in 2017 - page 3. (Read 2749 times)
January 06, 2017, 08:32:09 AM
So China's central banks discover the altcoin market. Great news.
Not surprising, what the central bank has to offer is simply digital fiat money under their central control. They are basically replicating PayPal as a national service. Innovation: Zero, just as the government loves it.
Not surprising, what the central bank has to offer is simply digital fiat money under their central control. They are basically replicating PayPal as a national service. Innovation: Zero, just as the government loves it.
January 06, 2017, 08:14:44 AM
This is one of the signs that I always spoke about. This is one of the signs that bitcoin will possibly be a goner in the years to come. There are two things that may actually happen to bitcoin when this fiat digital currency is launch.
1. There will be huge volume of bitcoin being dumped in the market by Chinese holders and miners. And since they own the biggest shares when they dump bitcoin it will possibly drop to 500$ to 300$ each.
2. If China will not make a dump then bitcoin will remain the same.
1. There will be huge volume of bitcoin being dumped in the market by Chinese holders and miners. And since they own the biggest shares when they dump bitcoin it will possibly drop to 500$ to 300$ each.
2. If China will not make a dump then bitcoin will remain the same.
January 06, 2017, 06:35:50 AM
I knew it, if it does not happen now it will happen soon. Everything about economy, financial policies and technology in Asia points to that direction, and if it can be adopted by a 1 billion country people, the value will be erupting. China has the recent track record of succeeding. This could help the trade of produce through online store to neighboring Asia countries, South America and Africa. If the government promote it. lots of money will be invested which make a big competition with bitcoin. By rumored Asia bitcoin centralization and mass adoption, bitcoin will be able to compete and survive it.
January 06, 2017, 05:50:56 AM
The future is coming very soon. This make some questions for all bitcoiners in the world, especially in China.
do we have to worry about that?
If this a good news, what is the best impacts for bitcoin users?
do we have to worry about that?
If this a good news, what is the best impacts for bitcoin users?
January 06, 2017, 05:45:44 AM
Fiat digital currency... I thought nearly all fiat currency was digital already, as in it doesn't exist? Central banks should stop trying so hard to release their own shitcoins.
January 06, 2017, 05:32:38 AM
China central bank to release digital currency prototype in 2017
Back in August 2016, Fan Yifei, Vice President fo People’s Bank of China, has written an article elaborating the theoretical basis and framework selection of China’s fiat digital currency. He says that the legal framework of China’s legal digital currency tends to follow “central bank – commercial bank” dual model, that is: the central bank is responsible for digital currency issuance and verification monitoring. Commercial banks are responsible for providing digital currency circulation services and building application for the ecosystem. A Demo system is expected to be released after the Spring Festival of 2017 after two rounds of revision.
http://news.8btc.com/china-central-bank-to-release-digital-currency-prototype-in-2017
Back in August 2016, Fan Yifei, Vice President fo People’s Bank of China, has written an article elaborating the theoretical basis and framework selection of China’s fiat digital currency. He says that the legal framework of China’s legal digital currency tends to follow “central bank – commercial bank” dual model, that is: the central bank is responsible for digital currency issuance and verification monitoring. Commercial banks are responsible for providing digital currency circulation services and building application for the ecosystem. A Demo system is expected to be released after the Spring Festival of 2017 after two rounds of revision.
http://news.8btc.com/china-central-bank-to-release-digital-currency-prototype-in-2017
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