China is developing a Digital Yuan. Digital Dollar vs Digital Yuan

Apollo

Staff Member
The Chinese government can freeze your funds.

I don't think it will be as popular as normal cryptos like BTC or ETH where nobody can freeze anything.

It might be used by some Africans and Southern Asians however who have crappy fiat currencies and may want to seek stability instead.
 
it takes decades to make transition from dutch guilder to u.k pound to american dollar as a world currency. China heavily rely on export to grow their economy, which means that they need to devalue their currency disqualifying themselves the opportunity to become a world currency.
 

Apollo

Staff Member
it takes decades to make transition from dutch guilder to u.k pound to american dollar as a world currency. China heavily rely on export to grow their economy, which means that they need to devalue their currency disqualifying themselves the opportunity to become a world currency.

Also, nobody trusts the CCP. They have an incredibly bad reputation.
 
The Chinese government can freeze your funds.

I don't think it will be as popular as normal cryptos like BTC or ETH where nobody can freeze anything.

It might be used by some Africans and Southern Asians however who have crappy fiat currencies and may want to seek stability instead.
China is also South America's largest trading partner. I don't think they will mess with their own currency or freeze assets arbitrarily. The Chinese really care about their image as a benevolent friend.
 
The whole thing is a complete farce.

Unlike bitcoin and other cryptocurrencies, the digital yuan would not employ blockchain, a distributed ledger technology that allows transactions to be authenticated without the use of banks.


:snoop:
 

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