Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Tanimariya on June 15, 2020, 07:15:21 PM
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The proposed digital currency would be based on a basket of currencies including the Chinese yuan, Japanese yen, South Korean won and Hong Kong dollar.
China is taking the fight for cryptocurrency supremacy to the world stage. A private-sector led plan to create a pan-Asian digital currency to rival Facebook’s cryptocurrency Libra and challenge the supremacy of the dollar reportedly has the backing of Beijing, according to an article published in the Nikkei Asian Review on Sunday.
Read more info: https://decrypt.co/32404/china-plans-pan-asian-digital-currency-to-rival-facebooks-libra
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Yes, the Libra project has been running so long that its real competitors are already appearing, but Libra is still gone. In my opinion, Libra has already missed its chance and is unlikely to be that global stable coin, as it was originally planned.
The Chinese government came up pretty well with the release of the regional digital currency. I read that Singapore also wants to join this project.
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Of course, the Chinese economy has grown so strong that the government of this country is quite capable of withstanding both Libra and the dollar. The other day I read that China has even imposed its own sanctions against the United States. The creation of the Asian stablecoin is a very good step in this direction.
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Yes, the Libra project has been running so long that its real competitors are already appearing, but Libra is still gone. In my opinion, Libra has already missed its chance and is unlikely to be that global stable coin, as it was originally planned.
The Chinese government came up pretty well with the release of the regional digital currency. I read that Singapore also wants to join this project.
Libra coin project is a great project but still that is not released because the U.S Govt will not give them permission to launched it. Libra coin is a big and great coin project but soon it will be released.
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I think China Yuan will be the king of real rivals in stable coins in Asia.
The proof is that China now has business glory throughout the world and now China has developed advanced technology in cryptocurrency for stable Yuan coins.
I can't say anymore because China has now become a super power country in terms of economy and business.
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Previously, some pundits saw Libra as an opportunity to overtake China in the digital currency competition. They warned that if regulators do not approve of this Facebook project, the digital yuan will become a de facto global cryptocurrency in emerging economies.
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China is indeed one step ahead of Korea, Japan and Hong Kong in this topic because China has full support from private companies to create cryptocurrency.
We all know that LIBRA has support from various factors around the world, but in every country there are many who do not support it.
If this China Yuan Digital is not supported in every country but the country itself and its citizens support it and this is what China hopes for. Good Job !
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China has the power to lead Asian in cryptocurrency industry. Actually China economic relationship to different countries work very well. I don't what exactly happen when time comes.
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I don't what exactly happen when time comes.
Why do you speak like that?
Do you have a problem with China over your personal problems?
Or maybe you don't like it if China creates a new coin that can compete with USDT and LIBRA?
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To have this competition, Libra still needs to be released. The LIbra project is constantly changing as it has met with fierce regulatory opposition. Given that the finance ministers of the European Union states opposed its circulation on their territory, then one of the possible markets for its circulation will be the Asian market. However, Libra is unlikely to be very happy there.
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Libra has already missed its chance and is unlikely to be that global stable coin, as it was originally planned.
The Chinese government came up pretty well with the release of the regional digital currency. I read that Singapore also wants to join this project.
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I don,t think so that Libra coin is going to be released becasue so many partners of this coin leave this project and they said this coin is not good.
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the Libra project has been running so long that its real competitors are already appearing, but Libra is still gone. In my opinion, Libra has already missed its chance and is unlikely to be that global stable coin, as it was originally planned
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The Libra is yet to be launch so I don't see any reason for competition from other projects. There is only one way for effective competition, that is, when the original project is first launch on the market then other projects competitors start their project. Libra from Facebook will definitely make great defferenc if it appears on the crypto market, and i think that competitors will find it difficult to beat the Libra coin.
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I agree with you and that is the biggest mistake of LIBRA!
I am most lazy and annoyed when the altcoins project is discontinued or tends not to work!
Come on LIBRA!
Don't lose to new born altcoins like Ferrum, Cartesi or DIA!
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Previously, some pundits saw Libra as an opportunity to overtake China in the digital currency competition. They warned that if regulators do not approve of this Facebook project, the digital yuan will become a de facto global cryptocurrency in emerging economies.
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Take a look at the cryptocurrency market and now there are many finances circulating that can compete with LIBRA.
Even in various countries, they have now created stable coins easily and simply according to the rules of their own countries and this is definitely a warning to LIBRA which until now has not been launched for the coins. LOL
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The delay in libra launch may affect it's adoption since there are now many competitors in the stablecoins cryptocurrency ecosystem. I think facebook libra project has taken too long in resolving it lingering challenge since 2018. A continuous delay is not good for the growth and a further development of the libra project in my opinion.
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The delay in libra launch may affect it's adoption since there are now many competitors in the stablecoins cryptocurrency ecosystem. I think facebook libra project has taken too long in resolving it lingering challenge since 2018. A continuous delay is not good for the growth and a further development of the libra project in my opinion.
The Libra stablecoin may not be launched for another, most unexpected reason. The Chinese government is now preparing legal documents for the circulation of its digitized yuan. They declare the digital yuan to be the property of China and prohibit anyone from using it to support the existence of other stablecoins. It can also be used by other states and then private and various commercial stablecoins will be outlawed. Only the digitized currencies of the central banks of the states will remain.
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This time this is not conform that Libra coin is going to be launched or not becasue the U.S Government not allow them to launched their coin and so many investors will leave this project. If the coin is launched the facebook users will buy this definitely.
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good news but what about the continuation of this project? is it still running?