Cryptocurrency of China!

[gourav789 2834]

I also read about it on YouTube channels , but still there isn't any currency that's handle by Chian government .  there is good project like Eos etc having good reputation in market , I think this designs still is in pending .

[BrolySSJ 7899]

The news that i have heard and that has been reported on this forum in other topics as well is that China is in the process of developing their own cryptocurrency. I think that even if it is just a form of digital fiat currency that it woudl still be considered to be a cryptocurrency depending on the network on which it is built and the benefits that it offers. As long as it does not operate in the conventional means of bank transactions that happen electronically then i think that people can call it a crypto. and personally i am all for this as i think that it will really propel the crypto world and hopefully more countries follow in the same foot steps.

Edited June 15, 2020 by BrolySSJ

[CryptoMaxim 2372]

I believe that if released, it will be a crypto coin. And if you take the total account, then cryptocurrencies are digital money. And China will issue a crypt coin on the blockchain. This will be a cryptocurrency. Not stocks or any other digital asset. This is my personal opinion.

[Omar Ommeish 4872]

I know that the currency launched by China is a digital currency for dealing inside the country of China only and not for international transactions outside the country.

[Sugibengi 390]

Yes that's right, a country's cryptocurrency project like digital money, this type of crypto is centralized because the government can control prices and quantities, I think cryptocurrency like this won't last long, because it's not profitable for its holders, people will still choose decentralized cryptocurrency like bitcoin because it is more profitable.

[khan22 3478]

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? 

In future may be china is going to be launched their own crypto currency and that time so many peoples are going to be invest becasue china release their coin when the crypto market is legal in all over the world and they will launched their coin at that time that peoples will invest in it.

[TimopheyKa 3900]

I believe that this cryptocurrency is intended only for the Chinese market, and therefore, does not serve as a better solution for the world market. But I believe that it will be in great demand, even outside of China!

[Abdul41x 0]

I think the digital currency China is about to launch has   nothing to do with cryptocurrency is just all  about a  typical digital  currency just like a normal fiat currency.

[Moaz 7239]

Yes, this is true, and I also read many news on the Internet about China will create its own digital currency and there are many countries in the world wanting to create a digital currency, but I think that this digital currency is a digital form of the local currency in these countries in order to support their economy and their local currency

[P A Ashif 2409]

Ya I too came across the thing , it is a fiat money only. Its name is 'digital currency electronic payment'(DCEP). This is a digital currency. It has been introduced for all digital payments in China. It cannot be compared with crypto because it will not be listed in trading market. That means it's just another form of fiat money.

[Projectcrypto 4382]

It is a Cryptocurrency but i will like you to be clear that this Cryptocurrency they launched is only going to be legal in China alone because they are the only country who have the right to it and only there citizens can make use of it. China is already a developed country and I believe they can control it in the right way since the government is aware.

[malik6314193 5449]

I also hear about this news that china is launching their own crypto currency. China is big market of crypto currencies. Mostly crypto users are from china. So it will be big development for them. 

[koussai999 1986]

I think it could be one of the most important currencies, given that China is one of the strongest economic countries at the present time and its economy is one of the largest in the world, so I think that this currency will have a great role.

[Solex 2262]

It should be a Cryptocurrency but i am sure that coin is only going to regulate within china and it will give the government opportunity to earn good revenue from users of that coin because I am sure the government have responsibility over the coin.

[Guru2050 8284]

To me laughing a Crypto currency in a given country like China that is too important to the world of crypto currencies is a welcome development and step forward of securing, strengthening, improving and boosting the future of Crypto currencies. From my side I wish a best of luck to provide a value coin that will be profitable and useful in general.

[Sarahden111 1231]

According to what I know, the Chinese government does not support or trust cryptocurrencies despite the concentration of a huge number of miners in China, but perhaps such a currency based on fiat currencies will be the beginning of a rethink of decentralized networks and their preference over central networks.

[Chief executive officer band 681]

it was effortless for China to render it thriving since China has a mammoth inhabitants to prop their cryptocurrency and include a efficient technology to care for blockchain technology. 

[Izeal 4404]

On 1/5/2020 at 9:47 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? 

@sohaib I thinks it's cryptocurrency because digital currency is no thing even the simple country can easily start trading with digital currency. So, I think they are going for their own cryptocurrency so even there are news that they are banning other cryptocurrency. We can't say anything until it's launch.

[jorgeDV006 93]

China has developed its digital currency for "electronic payments" "DCEP", with the support of its Central Bank and yuan backing,
they plan to put it to use in the next Winter Olympics, planned for February 2022 in Beijing.

[BaluDigital 84]

China is undoubtedly one of the most advanced countries in the field of cryptocurrencies and already has many advantages compared to other countries that do not yet have that efficiency to handle as cryptocurrency cards or ATMs that we already have in China. There are already taking cryptocurrencies as an asset in many more places and people are already being educated about their management and use of it

[bra231997 215]

On 1/5/2020 at 1:02 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? 

Hello friend, this is how you hear exactly the same thing, many talk about what a cryptocurrency would be, I think that for local consumption in China, it will be interesting to have what happens

[Affect579 66]

Yes, I also heard about this, but as I know that it will be a cryptocurrency working only within their country, that is, it will not be on the international market.

[adamramis 496]

Cryptocurrency is lunshed in China by satoshie nakamoto is Guinness person actually he did great job because he give us a good way to make money in this world 

[LionVic 52]

China's central bank has made steady advances in its goal of launching the world's first major sovereign digital currency. As the EU begins prepping a digital euro, DW considers the impact of the digital yuan.
Imagine going to the bank to take out cash, except without going to the bank and without the cash. If the Chinese central bank's plan for a digital yuan succeeds, the future could look something like that for everyone. 

Since early this year, China has gradually ratcheted up testing of its first central bank-backed digital currency, known there as DCEP, or "digital currency electronic payment." 

[lantonio 38]

for it to truly be a cryptocurrency it must have the option of being shabby and having acces to everyone, instead, a digital currency for a specific country does not qualify as a cryptocurrency but as digital money