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Author Topic: Will the Digital Yuan makes China even more powerful?  (Read 7525 times)

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #45 on: May 06, 2022, 02:42:58 AM »
China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

DCEP or digital yuan is just alternate crypto from the government, but I don't think it's a threaten for crypto world, I agree with this opinions above. Both are different thing will works at their way.
So, wait and see their progress.
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #45 on: May 06, 2022, 02:42:58 AM »

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #46 on: May 07, 2022, 05:58:37 AM »
How people will trust CBDC when they do not trust the current banking system. If you are a small capital owner then the bank will not do any problem for you but if you are a large capital owner then you will have to face a lot of questions about your funds. That is what most people do not like. CBDC could be a huge failure against cryptocurrency.
I don't think your point of view is correct. It is generally accepted that CBDCs created by governments will significantly increase the efficiency of their cashless payments, they will become much faster and cheaper. At the same time, governments are simultaneously solving other incidental problems of their bank currency. Because of this, CBDCs should enjoy better success than conventional cash currencies. This also applies to the digitized Chinese yuan.

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #47 on: May 08, 2022, 03:51:25 PM »
China already powerful As the biggest economic at the world.
I think digital yuan just the way to adopt crypto technology.
I don't think digital yuan will be a threaten for crypto currency.
Let's see
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #48 on: May 08, 2022, 07:45:51 PM »
The digital yuan is likely to be a closed currency, just like China itself...and all operations will be carried out either on the domestic market or in the interbank system...therefore, I will not see a threat to the cryptocurrency
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #49 on: May 08, 2022, 08:41:22 PM »
In the conditions of a centralized banking system, as well as sanctions, the digital coins of the countries will be relevant, plus it is very convenient and also quite cheap.China seems to me to be the first country to date that has gone so far with the development of a state-owned digital currency.
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #50 on: May 09, 2022, 01:07:32 AM »
CBDC has really become a trend in 2022 as many countries officially research and test it. If CBDCs were run on blockchain, this would be a good thing for the economy, but e-CNY doesn't use blockchain technology, it's just a version of fiat put on the internet and still regulated by Chinese government. I don't appreciate e-CNY.
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #51 on: May 09, 2022, 01:29:22 AM »
Maybe. Maybe not. But there is something about using digital money. It critically and literally reduces the cost of minting money, which runs into billions of dollars yearly. So you now have saved funds which can be channeled somewhere else

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #51 on: May 09, 2022, 01:29:22 AM »


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Re: Will the Digital Yuan makes China even more powerful?
« Reply #52 on: May 09, 2022, 02:21:52 PM »
Maybe. Maybe not. But there is something about using digital money. It critically and literally reduces the cost of minting money, which runs into billions of dollars yearly. So you now have saved funds which can be channeled somewhere else

I think it maybe not, I don't think Digital yuan will make China more powerful.
Because crypto currencies are more profitable for investment than digital yuan.

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #53 on: May 23, 2022, 11:04:54 PM »
China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

No, I don't think digita yuan won't make China more powerful.
Because crypto is decentrazed,  no one can control crypto move.
The government will have centralized coin, but won't be a threat for crypto currency.

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #54 on: May 23, 2022, 11:31:35 PM »
We know China is one of the biggest economic be at the world.
maybe at the past time we heard baout several times China blocked bitcoin and crypto.
But For now, they have digital yuan.
I think they thinked about a threat from crypto currency.
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #55 on: May 25, 2022, 06:16:35 PM »
while other topics are important on the agenda, cryptocurrencies will drift. If they need to resort to a ban again or say that bitcoin mining is harmful to the environment, they will do it.
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #56 on: June 10, 2022, 08:14:29 PM »
The digital currency is much more efficient than the usual non-cash payments of states. Therefore, CBDC makes the economy of any state stronger. If it is China, then China will become stronger. Moreover, the digitized yuan in China has become one of the first CBDCs among world states. Of course, this gives China undeniable advantages. True, the Chinese digitized yuan is not based on blockchain technology, and therefore, in order to say unequivocally in this regard, we need the results of the practical circulation of this stablecoin of China.

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #57 on: June 11, 2022, 03:41:45 PM »
China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

China already powerful mate, one of the biggest economic at the world..I agree with this.
Digital yuan is just digital currency that being created by China to compete crypto currency
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Re: Will the Digital Yuan makes China even more powerful?
« Reply #58 on: June 12, 2022, 03:51:16 AM »
We know China is one of the biggest economic be at the world.
maybe at the past time we heard baout several times China blocked bitcoin and crypto.
But For now, they have digital yuan.
I think they thinked about a threat from crypto currency.
This is not a threat to other Crypto if there is a digital Yuan, because I believe the value of the digital yuan will be a stable coin.  Because if it doesn't become a stable coin, many people will be afraid to own it because the value of Cryptocurrency has high fluctuations. Because even if this is a coin from China, it will still be less popular than Bitcoin.

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Re: Will the Digital Yuan makes China even more powerful?
« Reply #59 on: June 14, 2022, 05:16:10 PM »
This is not a threat to other Crypto if there is a digital Yuan, because I believe the value of the digital yuan will be a stable coin.  Because if it doesn't become a stable coin, many people will be afraid to own it because the value of Cryptocurrency has high fluctuations. Because even if this is a coin from China, it will still be less popular than Bitcoin.

The digital Yuan will have the same value as the physical Yuan that we already know, at the moment only about 261,000,000 Chinese citizens are testing it. The Chinese government has been testing for several years and still wants to improve the security of the wallet s-CNY. There is still no date for the use of the digital Yuan to be massive or public, but according to the latest news it could be sometime in 2024, although it is very possible that the launch of the wallet will suffer delays.
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