Is the idea of China to tokenized her currency the best?

bitgolden

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Quote from: Joecool23 on September 28, 2019, 01:07:34 AM

China have taken the step to tokenized their currency I guess its a nice idea as this will help China keep track of all their currency around the globe, it will also have great effect on the world of crypto as other countries will also trust digital currency idea and implement the legal use of it, what's your take on this?

China has the largest population in the whole world and followed by India which the combination of them is like 40 percent of the world’s population, if they both decide to tokenize their currency which I am not typically against, because this will only make the use of cryptocurrency generally increase, but these two tokenizing their currency and imposing it on their citizens.

What do you think will happen to bitcoin if those big population tends to use their coin to bitcoin, because believe me, they will fear their government more than decentralization. This is why I have not been too good about the tokenizing their currency at this period when bitcoin is meant to gain popularity and be accepted as the global currency of the world through the continuous growth of its adoption.

Leyss

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If you mean the new digital currency of China - CBDC, then from the point of view of this state they are doing the right thing that they are going to release it. This seems to be a stable coin still needs to be improved, however, the Chinese government understands that if it drags on with the release of this coin, a coin will certainly appear that will be similar to Libra.
At the same time, it cannot be said that the Chinese government is trying to digitize its national currency. They have already warned citizens that it will be illegal to refuse cash, this will contribute to the deterioration of the economic situation in the country. As for the CBDC coin itself, it can be evaluated after it starts functioning.

Weng simok

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It seems that the ban occurred due to the sinking of the Chinese state currency, so the Chinese government began to take a stance to ban the exchange and also mining in their countries but it seems that it does not affect the development of crypto in the country because there are still many mining transactions that occur in the country, and this shows there are still many Chinese people who hold their bitcoin or crypto today despite the ban on the Chinese government.

funchiestz

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Quote from: Joecool23 on September 28, 2019, 01:07:34 AM

China have taken the step to tokenized their currency I guess its a nice idea as this will help China keep track of all their currency around the globe, it will also have great effect on the world of crypto as other countries will also trust digital currency idea and implement the legal use of it, what's your take on this?

I did not fully understand what the Chinese government is trying to do most. Every development we read tells different things. One day talking about possible bans from the Chinese government, the next day China's support.

I never expected China to oppose the cryptocurrencies, which would bring great possibilities to trade. But the rumors are too much. I think it would be great if the Chinese authorities gave full update to us...

nxnqauff

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I think this is good idea and country like China is moving into the digital world which is much needed one. Countries like US will learn from this effort. Then crypto will lead the whole currency world.

ashmodeus

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nothing, its just banking with crypto version, nothing interest inside that system.
i also believe its will be like another stable coin.
well, although its will be, how can i say , the first country creating a national crypto currency.
but there is nothing interesting in it.

Joecool23

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China have taken the step to tokenized their currency I guess its a nice idea as this will help China keep track of all their currency around the globe, it will also have great effect on the world of crypto as other countries will also trust digital currency idea and implement the legal use of it, what's your take on this?

Topic: Is the idea of China to tokenized her currency the best? (Read 119 times)