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Topic: Is China ahead of US now in terms of digital adaptation? - page 4. (Read 586 times)

sr. member
Activity: 1274
Merit: 263
Illegally : Yes
Legally : US is far far ahead than China.

It has been quite a few month when US and China went to trade war. The China has pitched his 5G technology to India but India is reluctant to invest yet considering the harmful effects that it will bring.

Trump has already motivated the Companies in Silicon valley to start working on G few months back, i see by 2020 , US will be standing with his own 5G technology.

What do you mean illegally? is not they are tokenizing their own currency? from what I heard, it is legal and approved by the government.
for them it is legal but for other countries, it might be not because every country has a different set of law. And the trade war has happened for a year not just for a few months.



In term of digital currency adoption, China is ahead of the US.
But I am still a little bit skeptical about this because it brings more harm than good. This is also the reason why the US and many countries do not create anything or even ban cryptocurrency. Because it can affect their economy in some way.
for me

China: Optimism
Else: Skepticism
legendary
Activity: 1946
Merit: 1137
turning the local currency (fiat) into a token is not really a great achievement by a country to be excited about or call it "being ahead". cryptocurrency is not going to work well when you combine it with centralization, that is why the centralized altcoins always suck so hard. when you add the government factor into that equation then things become even worse.
they probably do something like Venezuela, first create their own coin and then after it fails they start adopting bitcoin as Venezuelans are doing right now. Tongue
sr. member
Activity: 756
Merit: 251
Today I saw a video clip from twitter telling that china is ahead of US now in terms of digital currencies, I made a few google searches and found out it's legit, Soon china will tokenize their currency and base on the blog I have read below it is almost ready to launch.  I know I'm a little too late about this but I just want to hear your thoughts.

Sources:

Twitter Video Clip: https://twitter.com/SquawkCNBC/status/1177543601242484743
Full Video: https://www.cnbc.com/video/2019/09/27/people-will-choose-a-currency-that-the-government-cant-control-bitcoin-pro.html

Central bank digital currency (CBDC)
http://www.chinadaily.com.cn/a/201908/20/WS5d5b5d1ca310cf3e35566c01.html

If you will believe the hype surrounding this tokenization of the Chinese Yuan, you will also believe that their launch is already coming very soon. But if you are going to be objective about it, that launching is much more uncertain than the launching of Libra. And China itself is in no hurry about it.

Take time to read these:
https://thenextweb.com/hardfork/2019/09/25/china-no-idea-when-launch-digital-currency-cryptocurrency/
https://www.scmp.com/economy/global-economy/article/3030120/china-has-no-timetable-launch-its-digital-currency-says
https://technode.com/2019/09/25/no-timetable-for-the-launch-of-chinas-digital-currency-pboc-governor/
https://cointelegraph.com/news/chinas-central-bank-digital-currency-has-no-timetable-for-launch

And the only reason why China seems to be ahead of the US in terms of digital currencies is this vague idea of tokenization of their national currency which, according to crypto experts, is beyond the capability of the Chinese government as of this time. Other than that, there is nothing that says China is really ahead of the US in terms of digital currencies.
legendary
Activity: 1386
Merit: 1001
Illegally : Yes
Legally : US is far far ahead than China.

It has been quite a few month when US and China went to trade war. The China has pitched his 5G technology to India but India is reluctant to invest yet considering the harmful effects that it will bring.

Trump has already motivated the Companies in Silicon valley to start working on G few months back, i see by 2020 , US will be standing with his own 5G technology.
full member
Activity: 1176
Merit: 162
Today I saw a video clip from twitter telling that china is ahead of US now in terms of digital currencies, I made a few google searches and found out it's legit, Soon china will tokenize their currency and base on the blog I have read below it is almost ready to launch.  I know I'm a little too late about this but I just want to hear your thoughts.




Sources:

Twitter Video Clip: https://twitter.com/SquawkCNBC/status/1177543601242484743
Full Video: https://www.cnbc.com/video/2019/09/27/people-will-choose-a-currency-that-the-government-cant-control-bitcoin-pro.html

Central bank digital currency (CBDC)
http://www.chinadaily.com.cn/a/201908/20/WS5d5b5d1ca310cf3e35566c01.html

Update:
China are claiming to have 220,000 (TPS) transaction-per-second.

Sources:

https://beincrypto.com/chinas-digital-currency-claims-to-have-220000-transactions-per-second/
http://www.globaltimes.cn/content/1172326.shtml
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