Cryptocurrency of China!

[Naylor89 1223]

People talk about restrictions or not using bitcoin when China create there coin but I don't think any of that would happen. what I foresee is healthy competition from altcoins.

[Pearls Before Swine 815]

On 1/4/2020 at 11:02 PM, sohaib said:

it is just a digital form of fiat currency which is called Digital Currency

Exactly, and this is what I've been saying.  It wouldn't be a crypto like bitcoin that's decentralized and is mined by people around the world.  It would be completely controlled by the government, which would also allow them to keep track of everyone's financial transactions.  I think that's probably the chinese government's goal if they really are thinking about launching something like this.  Hopefully they don't.

[sohaib 273]

5 hours ago, Pearls Before Swine said:

Exactly, and this is what I've been saying.  It wouldn't be a crypto like bitcoin that's decentralized and is mined by people around the world.  It would be completely controlled by the government, which would also allow them to keep track of everyone's financial transactions.  I think that's probably the chinese government's goal if they really are thinking about launching something like this.  Hopefully they don't.

Yes, you exactly talked my mind. Happy to know that; we are aware somehow that what is pure crypto and what is not. 

[avatarkiyoshi 270]

On 1/5/2020 at 11:02 AM, sohaib said:

Hello Friends, 

 I have read and watched in the news several times in the last few days that. Media and People are saying that; China is about to launch its own cryptocurrency but, as i study china's cryptocurrency in depth so i realized that this is not a cryptocurrency. it is just a digital form of fiat currency which is called Digital Currency. Please, I would love to know your prospects on this. What do you say? is it a cryptocurrency or just a digital form of fiat currency? 

It's looks like stablecoin, China's digital currency is just create for a portion of fiat, which means it's not replace fiat completely. 

Possibly China plan to create cryptocurrency, but it's centralized.

You can read more here: https://www.nytimes.com/2019/10/18/technology/china-cryptocurrency-facebook-libra.html

[sohaib 273]

1 hour ago, Sayuz said:

China have started to create their own coin and moreover China have started their own blockchain technology which will highly impact the market and traders can earn from it too. 

It is interesting. would you please mind to tell where can i get more details on this?

49 minutes ago, avatarkiyoshi said:

It's looks like stablecoin, China's digital currency is just create for a portion of fiat, which means it's not replace fiat completely. 

Possibly China plan to create cryptocurrency, but it's centralized.

You can read more here: https://www.nytimes.com/2019/10/18/technology/china-cryptocurrency-facebook-libra.html

Yes, this is exactly what i was understanding about this Chinese crypto. 

[sohaib 273]

11 hours ago, Ahmed112 said:

Very big and great news. If china launch their own crypto currency thats good for china population and also we get great benefits from that.

We don't get benefits from china's digital currency. Only china gets benefits. That is the problem dude 😄

Edited January 8, 2020 by sohaib

[Taposh23 18]

Yes China has invented their own crypto currency and can use it to the right of their country for the sake of their own sake, but it may not be prevalent all over the world. Their valuable currency has made their own for their country so that our valuable vote can be a success and they do profitable business.

[Romaan1987 601]

On 1/5/2020 at 9:02 AM, sohaib said:

Hello Friends, 

 I have read and watched in the news several times in the last few days that. Media and People are saying that; China is about to launch its own cryptocurrency but, as i study china's cryptocurrency in depth so i realized that this is not a cryptocurrency. it is just a digital form of fiat currency which is called Digital Currency. Please, I would love to know your prospects on this. What do you say? is it a cryptocurrency or just a digital form of fiat currency? 

China is a big country with stable economy, they are blocking bitcoin in their country but adopting blockchain technology to produce their own currency, This will change the picture of economic conditions.

[pkrs 603]

I came to know China is thinking of launching Cryptocurrencies as a alternative for its present currency yuan that is currently in circulation. In collaboration with facebook they are going to Enter Cryptomarkets globally this year.

[Sourav43 106]

I don't know much about cryptocurrency of China. If anyone knows anything about it, please give me some information about it. This has many benefits for me.

[Sid 589]

Maybe if the currency uses blockchain technology, it can be called cryptocurrency. However, the currency does not have the characteristics of cryptocurrency that is not controlled by the government. So I think that's one form of digital currency 😅

[SuperCrypto 7193]

I think the news is true. A Chinese central bank official told Reuters that the launch of the cryptocurrency through the electronic digital currency payment project would spark a race between commercial banks to provide the best cryptocurrency services.

[Sumayya 493]

5 hours ago, Sid said:

Maybe if the currency uses blockchain technology, it can be called cryptocurrency. However, the currency does not have the characteristics of cryptocurrency that is not controlled by the government. So I think that's one form of digital currency 😅

The form of cryptocurrency is to provide freedom to the people of the world

[Sumayya 493]

On 1/10/2020 at 4:02 AM, badhonkhan said:

Thanks for sharing information we know that China is big country and this time China will launch their own crypto currency. It is great news for us.

Yes they are about to Launch their own coin with their populated country.

[Muhammad atif iqbal 569]

In my opinion china will definitely launch their crypto currency because China is much more involved in crypto currencies as compared to other countries many crypto mining companies started their projects in china

digital currencies will replace the fiat currency in future  we can only assume we cannot predicate correctly china launch their cryptocurrency it will definitely create some impact on crypto market

[bliznec 22268]

China is very promising as a blockchain solution and this makes cryptocurrency strong. China is an advanced country in cryptocurrencies. 

[febriyana 934]

Yes that is right, but i am still not sure their cryptocurrency will used worldwide. Maybe the government want make cryptocurrency only used on their country. So people can easy use the cryptocurrency for transaction. We already know China is really blocked from other country. But if you want invest on coin from China, you can invest on NEO.

[guatazoo 7150]

China has already launched its own cryptocurrency, it is called NEO, but they are still creating others.

[andrehol 16294]

The main advantage of cryptocurrency is its decentralization. China is going to release its crypto - this means that it will be centralized. The price will depend on the Chinese government, not the market. This is not crypto!

[Mehak tung 18]

Yea I agree for China created on your ideas create a crypto currency. Day by Day trading buyer are high demand for buying crypto currency China makes country most profit form crypto currency

[Shahud 1319]

As we all know china is working on its own cryptocurrency .may be it will be in a digital form.and this crypto currency will only be for the China's citizens or people who are living in the china can only perform the trades on the same coin

[Great Commander 659]

There is no way for them to control existing crypto but rather based on one. They are creating their own currency not connected to cryptos as it will crossed the boundaries of it being decentralized. 

[sohaib 273]

On 1/14/2020 at 7:45 AM, gmjutt6 said:

I think China didn't launch its currency still and I am hopeful China will establish its own currency soon. And it will grow up soon...

Yes, China's digital currency will launch sometimes. But, Baidu has launched a beta version of Xuperchain 

[suzuya 945]

China have plans on developing and releasing their own cryptocurrency, and it's sure that it will be manage by it's government, they can charge taxes on it and I don't know if Chinese can really benefit from their own crypto because it's owned by the government.

[sazzad925379 128]

China is one of the developing countries of the world and China is accepting this crypto currency and the number of crypto currencies in China is increasing constantly but I hope every member of China will use crypto currency soon.