China's digital currency aims to leave the rest of the world in the dust

[tower9]

So what would be the incentive for foreign companies and governments to use this digital currency to pay for goods vs using the dollar?

 

[Han Patriot]

To be frank, no one cares about china. Even PLA, CCP don't care about chinese. You guys have no opinion, choice or option.

All these discussion because of Corona virus and Ladhak stand up.

Lolol, Indias one day increment is equivalent to the total Chinese case, yet you guys can accuse us of mismanagement, hahahahhah. The demographic is coming soon thamby. Its gonna be biggg. Ladakh? We are still waiting after all the shouting and bragging. Lol

 

[Beidou2020]

To be frank, no one cares about china. Even PLA, CCP don't care about chinese. You guys have no opinion, choice or option.

All these discussion because of Corona virus and Ladhak stand up.

Stop the China obsession and the superpower delusions and concentrate on self-development.

 

[SuperStar20]

Stop the China obsession and the superpower delusions and concentrate on self-development.

Still no one cares ..

 

[925boy]

Just another form of electronic money

if you're calling cryptocurrency/blocktain technology this, that just means yo dont understand what blockchain technology is really about.
we know this news is BIG, because the # of China haters this thread gathered here is just amazing...

 

[swnjo]

Dont understand this. Centrally controlled, no distributed database, so no blockchain needed. How is that different from regular money ? There will still be a central controlling authority.

 

[Beidou2020]

Still no one cares ..

You care. You’re on a China-related thread. You seem to care more than most.

 

[SuperStar20]

You care. You’re on a China-related thread. You seem to care more than most.

It is fact, no one cares.

 

[Han Patriot]

It is fact, no one cares.

Lololol. Look at this thamby

 

[SuperStar20]

Lololol. Look at this thamby

You have to live with this 哥哥. no one cares.

 

[Beidou2020]

It is fact, no one cares.

Then why do YOU care?

 

[SuperStar20]

Then why do YOU care?

No, I don't care. In fact no one cares. It is bitter truth.

 

[Beidou2020]

No, I don't care. In fact no one cares. It is bitter truth.

Bitter truth is you care.

 

[the_messenger]

Dont understand this. Centrally controlled, no distributed database, so no blockchain needed. How is that different from regular money ? There will still be a central controlling authority.

They removed banks from the equation.
One of the reason banks exist is to support the transfer of virtual money inside bank accounts, now that feature is no longer needed.
In the bigger picture, the US used to sanctions countries based on the banks and the control of transactions. With this digital currency, the transactions would become bitcoin liked, widely distributed into countless individuals.
Technically, it will be use mainly in China, but pretty soon, people will use it to by pass sanctions since they only need an account. Conversion sites and resellers will popup every where, much like "Buy/Sell Coin"

 

[Riea]

After this report I dont think I would want any other crypto except bitcoin, or ethereum. All other coins makes you believe that some "country" or bank would even up using it as a currency. Which is obviously wrong.