Topic: China tokenizing their currency a good idea i think - page 2. (Read 227 times)
I believe this will make China to lift the ban placed on it,'s citizen. Although, what they just did is to ensure their citizens are entirely protected from the shortcomings of crypto itself. Although, such decision will also impact their economy.
China as a country is known to have a different approach to the usual systems. For instance, the social credit thing is something unique and done rightly on the highest levels. Wouldn't be surprised if the Chinese government bridges the social credit thingy with the tokenized currencies in this case and possibly rewards/penalties would be direct deductions from the same platform. All in all, China is pushing to get its own currency buzzing in this ever-growing cryptocurrency world.
Do you know why they want to create such cryptocurrency, which is not really cryptocurrency?
To track chinese people. China is well known for their spy activities.
To track chinese people. China is well known for their spy activities.
How will this help other coins and tokens grow? won't this make people turn away from other coins because i think if every countries have their own digital currencies people will use them more than other coins and they will be well regulated too
China tokenizing their currency. There are other countries that will follow. What’s going to happen is that there’s not going to be a competition between digital and non-digital currencies. Every currency will be digital says Pompliano, a partner at digital assets investment firm Morgan Creek Digital and a former product manager at Facebook, what do you guys think? this thus makes sense to me
Full news is right here
https://dailyhodl.com/2019/09/27/crypto-heavyweight-urges-us-government-to-tokenize-the-us-dollar-immediately/
Full news is right here
https://dailyhodl.com/2019/09/27/crypto-heavyweight-urges-us-government-to-tokenize-the-us-dollar-immediately/
There are lots of things to be considered when upgrading from paper money to cryptocurrency, it may sounds great but the cost of it will be huge. They need to pass new laws regarding this matter, it also cost huge everytime there is an implementation of new currency, they have to allocate budget for campaigns and awareness, and even tutorial to those who are not knowledgeable on cryptocurrency. They need to establish every network connections of that cryptocurrency in every corner of the country and worst, all the peoples monetary movement can be tracked by the government since blockchain is an open ledger to those who have access to it. In short it will come with a great price which is sacrificing financial privacy.
China tokenizing their currency. There are other countries that will follow. What’s going to happen is that there’s not going to be a competition between digital and non-digital currencies. Every currency will be digital says Pompliano, a partner at digital assets investment firm Morgan Creek Digital and a former product manager at Facebook, what do you guys think? this thus makes sense to me
Full news is right here
https://dailyhodl.com/2019/09/27/crypto-heavyweight-urges-us-government-to-tokenize-the-us-dollar-immediately/
Full news is right here
https://dailyhodl.com/2019/09/27/crypto-heavyweight-urges-us-government-to-tokenize-the-us-dollar-immediately/
Jump to: