Topic: China to have their own digital currency based on blockchain technology (Read 537 times)
July 30, 2018, 08:20:49 AM
Government backed coins will be highly centralized and as such not of relevance to the crypto world. People will invest mostly for the sake of the money and the tech. However, core blockchain enthusiasts will shy away from it. Again, there's a huge doubt the Chinese government would consider issue it's own cryptocurrency.
July 30, 2018, 08:10:48 AM
China is frustrating to fabricate sole of the modification bills and banking steps. If they arouse it or not, we'll examine. So long course of action this is honorable a statement
July 28, 2018, 07:08:26 AM
Not really a surprising thing. Anyone who knows how money and currencies work would know that the time of cash is numbered and cryptocurrencies are the next generation of currency. With china adopting this it will make them have a better adopted and better working cryptocurrency than the rest of the world when they finally realized that cash is dying out.
July 27, 2018, 09:57:34 PM
I did not even doubt that the Chinese government would issue its own crypto currency. With such a dislike of the decentralized crypto currency, they have only one way - to issue their centralized crypto currency. True, it's been a long time already, but nothing has been heard about such a crypto currency. Apparently, they are very serious about this issue.
July 27, 2018, 09:46:24 PM
I've always been curious about the centralization of token, so people with power can modify the data at will, so it's a terrible thing.
So this has nothing to do with blockchain and decentralization.
So this has nothing to do with blockchain and decentralization.
July 27, 2018, 09:33:27 PM
Source: chinese text https://www.reddit.com/r/CryptoCurrency/comments/835vc2/china_will_have_its_own_digital_currency_based_on/
What do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.
What do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.
If this the only thing that can make them embrace and become open in blockchain technology, then we must support this, China is a big country and one of the reason why Bitcoin is very popular, they have control on some mining company.
July 27, 2018, 09:17:29 PM
China is a big market in the world, and China's interference in electronic money will contribute to future growth.
July 27, 2018, 09:05:04 PM
Source: chinese text https://www.reddit.com/r/CryptoCurrency/comments/835vc2/china_will_have_its_own_digital_currency_based_on/
What do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.
I do not think it's goodWhat do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.
E-money should not be set aside for development organizations and government to manage.
July 25, 2018, 04:10:34 AM
Wont be a good thing because if they have created a cryptocurrency for their country surely it will be 100% centralized they shouldnt be doing that in our community XRP and USDT is enough blacksheeps from our community these centralized coins shouldnt be supported by our community because we are here for the freedom of transacting anonymously,not a good thing to have. 
Right, based on many observations and my own observations also is that the actions of the Chinese government in the last few years when it comes to crypto is enormously antagonizing to the point one can feel that cryptos are not welcome in the Middle kingdom. Now that seems to change because of this and it needs to be seen where this will lead.
July 25, 2018, 04:01:32 AM
With China involved, anything is possible, i no longer get surprised with the kind of things that happens down there, the country has a lot of potential and innovative minds, there were suspicions that they banned BTC to pave way for a more local technology, this might just been the case
July 25, 2018, 03:35:38 AM
In China, everything happens under government control. The centralized currency contradicts the concept of the crypto-currency, which consists in decentralization. I think such a project has the right to exist, but it is unlikely to be popular in the world of crypto-currency.
June 08, 2018, 04:47:29 AM
I think that China keeps the most advanced technologies, it is a rapidly developing country. And this is not surprising after they made such a breakthrough in the economy.
April 04, 2018, 08:04:54 AM
Just cutting themselves off from free trading with the rest of the globe.
China coin can only ever be china coin.
Bitcoin (real decentralised crypto) can be global coin (excluding china)
seems to me china is not doing the right thing here especially since they already had bags of decentralised crypto and infastructure there.
Seems self destructive.
I understand banning ico if they believe a lot of their citizens getting scammed and value extracted from them
But banning btc or ltc there seems strange. Should have just put some reasonable tax on the profits made there.
China coin can only ever be china coin.
Bitcoin (real decentralised crypto) can be global coin (excluding china)
seems to me china is not doing the right thing here especially since they already had bags of decentralised crypto and infastructure there.
Seems self destructive.
I understand banning ico if they believe a lot of their citizens getting scammed and value extracted from them
But banning btc or ltc there seems strange. Should have just put some reasonable tax on the profits made there.
April 04, 2018, 07:30:54 AM
I think it's good for crypto, China do tend to take a western tech or product and put their own version of it out thats government managed. Look what they do to the Facebook and Google clones and they're doing well. It in no way impacts the original product but does promote it's adoption to Chinese users.
For once there will be some originality from china, most of its techs are normally duplicate and second best to the western tech. Maybe thats the reason why China has been hostile to other cryptos,lets wait and see.
April 04, 2018, 01:41:35 AM
I think it's good for crypto, China do tend to take a western tech or product and put their own version of it out thats government managed. Look what they do to the Facebook and Google clones and they're doing well. It in no way impacts the original product but does promote it's adoption to Chinese users.
For once there will be some originality from china, most of its techs are normally duplicate and second best to the western tech. Maybe thats the reason why China has been hostile to other cryptos,lets wait and see. 
April 04, 2018, 01:29:05 AM
This is a logical step on the part of the Chinese authorities, they are trying to control the financial market of the country, this is their only opportunity.
Agree with that basically china always trying to create their own things just like facebook replaced by Weibo and they making their own virtual currencies does make sense seeing that they always do this.However, it will also bring positive side to the blockchain technology as it means that the technology recognised to be useful that government want to use it. but however, it's kinda complicated to things how china will centralize something that's decentralised like blockchain technology, time will tells.
April 04, 2018, 01:25:43 AM
This is a logical step on the part of the Chinese authorities, they are trying to control the financial market of the country, this is their only opportunity.
March 20, 2018, 06:10:35 PM
I think it's good for crypto, China do tend to take a western tech or product and put their own version of it out thats government managed. Look what they do to the Facebook and Google clones and they're doing well. It in no way impacts the original product but does promote it's adoption to Chinese users.
March 20, 2018, 05:58:39 PM
Source: chinese text https://www.reddit.com/r/CryptoCurrency/comments/835vc2/china_will_have_its_own_digital_currency_based_on/
What do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.
I don't think centralized cryptocurrency can make much of a difference for China. Cryptocurrency should be decentralized by itself, rather than controlled by a government. What do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.
March 20, 2018, 02:47:57 PM
Although it will be centralised which is not ideal, it is a huge step forward for the crypto industry. There was a big dump when China said they will ban crypto, but now if they embrace it the market should pump upwards. NEO will do well after this announcement as they always follow the rules and might even get state sponsorship.
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